Pinnacle Wealth Planning Services Inc. Invests $228,000 in Nordstrom, Inc. (NYSE:JWN)

Pinnacle Wealth Planning Services Inc. bought a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,439 shares of the specialty retailer’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the last quarter. Spire Wealth Management grew its position in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Nordstrom in the 4th quarter valued at $63,000. KBC Group NV grew its position in Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 1,287 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Nordstrom in the 4th quarter valued at $122,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Evercore ISI upped their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research report on Wednesday. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus price target of $22.90.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.46 on Friday. Nordstrom, Inc. has a 1-year low of $16.78 and a 1-year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business’s fifty day moving average price is $24.24 and its two-hundred day moving average price is $23.32. The firm has a market capitalization of $4.04 billion, a PE ratio of 15.58 and a beta of 2.60.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. On average, research analysts expect that Nordstrom, Inc. will post 1.97 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 annualized dividend and a dividend yield of 3.11%. Nordstrom’s payout ratio is 44.19%.

Nordstrom Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.