Wolverine Asset Management LLC Invests $63,000 in Nordstrom, Inc. (NYSE:JWN)

Wolverine Asset Management LLC purchased a new position in Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,600 shares of the specialty retailer’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of JWN. Hennessy Advisors Inc. purchased a new stake in shares of Nordstrom in the fourth quarter worth about $56,026,000. Verition Fund Management LLC lifted its holdings in shares of Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Nordstrom in the third quarter worth about $6,171,000. Charles Schwab Investment Management Inc. increased its position in shares of Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after purchasing an additional 89,114 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Stock Down 0.0 %

Shares of Nordstrom stock opened at $24.32 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom, Inc. has a 52-week low of $16.78 and a 52-week high of $24.99. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. The company’s 50 day moving average price is $24.15 and its 200-day moving average price is $23.18.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the business earned $0.25 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Nordstrom, Inc. will post 1.97 EPS for the current year.

Analysts Set New Price Targets

JWN has been the topic of several research analyst reports. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. StockNews.com initiated coverage on shares of Nordstrom in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Bank of America upped their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Evercore ISI upped their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.17.

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.