Prudential Financial Inc. Purchases 104,616 Shares of Nordstrom, Inc. (NYSE:JWN)

Prudential Financial Inc. increased its holdings in Nordstrom, Inc. (NYSE:JWN) by 260.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,839 shares of the specialty retailer’s stock after purchasing an additional 104,616 shares during the period. Prudential Financial Inc. owned approximately 0.09% of Nordstrom worth $3,498,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of JWN. KLP Kapitalforvaltning AS purchased a new stake in shares of Nordstrom during the 4th quarter valued at about $514,000. Sei Investments Co. raised its position in Nordstrom by 91.5% during the fourth quarter. Sei Investments Co. now owns 52,202 shares of the specialty retailer’s stock valued at $1,261,000 after purchasing an additional 24,944 shares during the period. American Century Companies Inc. lifted its stake in shares of Nordstrom by 18.3% in the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after purchasing an additional 450,539 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Nordstrom by 47.0% in the 4th quarter. Xponance Inc. now owns 15,574 shares of the specialty retailer’s stock worth $376,000 after purchasing an additional 4,976 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in shares of Nordstrom during the 4th quarter valued at approximately $3,767,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on JWN shares. Evercore ISI lifted their price target on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note 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 research note on Wednesday, March 5th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Barclays lifted their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and increased their price target for the stock 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 given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Up 0.1 %

NYSE:JWN opened at $24.47 on Wednesday. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.58 and a beta of 2.60. Nordstrom, Inc. has a 52 week low of $17.21 and a 52 week high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The firm has a 50 day moving average of $24.31 and a 200 day moving average of $23.61.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.32 billion. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

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.