Madison Investment Advisors LLC Invests $3.77 Million in Nordstrom, Inc. (NYSE:JWN)

Madison Investment Advisors LLC acquired a new position in shares of Nordstrom, Inc. (NYSE:JWN) in the 4th quarter, HoldingsChannel reports. The fund acquired 156,000 shares of the specialty retailer’s stock, valued at approximately $3,767,000.

Several other large investors also recently modified their holdings of the stock. Retirement Systems of Alabama grew its position in shares of Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after buying an additional 512 shares during the period. Freestone Capital Holdings LLC lifted its holdings in shares of Nordstrom by 3.0% in the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock worth $465,000 after purchasing an additional 558 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Nordstrom by 1.4% in the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after purchasing an additional 617 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after purchasing an additional 640 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Nordstrom by 6.7% in the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after purchasing an additional 723 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

JWN has been the topic of a number of recent research reports. Evercore ISI increased their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, Barclays raised their price objective on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.90.

Nordstrom Trading Down 0.3 %

NYSE JWN opened at $24.23 on Friday. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 15.44 and a beta of 2.60. Nordstrom, Inc. has a one year low of $17.21 and a one 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 is $24.26 and its 200-day moving average is $23.49.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Equities research analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, March 11th. Nordstrom’s payout ratio is 44.19%.

Nordstrom Company 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.