Alaska Permanent Fund Corp Acquires 12,077 Shares of Nordstrom, Inc. (NYSE:JWN)

Alaska Permanent Fund Corp raised its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 9.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,670 shares of the specialty retailer’s stock after purchasing an additional 12,077 shares during the period. Alaska Permanent Fund Corp owned 0.08% of Nordstrom worth $2,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC increased its stake in shares of Nordstrom by 1,000.3% during the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after purchasing an additional 3,391 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of Nordstrom by 152.2% during the fourth quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after buying an additional 102,361 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Nordstrom by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock valued at $185,865,000 after buying an additional 46,980 shares during the last quarter. Winslow Asset Management Inc. grew its holdings in shares of Nordstrom by 5.4% during the fourth quarter. Winslow Asset Management Inc. now owns 167,896 shares of the specialty retailer’s stock valued at $3,098,000 after buying an additional 8,626 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Nordstrom by 347.2% during the fourth quarter. Verition Fund Management LLC now owns 309,299 shares of the specialty retailer’s stock valued at $5,707,000 after buying an additional 240,134 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JWN. Telsey Advisory Group reiterated a “market perform” rating and set a $19.00 price target on shares of Nordstrom in a report on Friday, May 31st. Barclays increased their price target on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, May 31st. JPMorgan Chase & Co. increased their price target on shares of Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, May 17th. Evercore ISI increased their price target on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Friday, May 31st. Finally, Bank of America raised their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a report on Friday, May 31st. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus target price of $17.42.

Nordstrom Stock Performance

JWN traded down $0.38 during trading on Thursday, hitting $21.37. The company’s stock had a trading volume of 570,533 shares, compared to its average volume of 3,842,603. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.54. The firm has a market cap of $3.50 billion, a PE ratio of 11.89, a P/E/G ratio of 2.49 and a beta of 2.58. The business’s 50 day simple moving average is $20.54 and its 200-day simple moving average is $19.32.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts predict that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.76 annualized dividend and a dividend yield of 3.56%. Nordstrom’s payout ratio is 41.53%.

About Nordstrom

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.