AXQ Capital LP Sells 26,145 Shares of Nordstrom, Inc. (NYSE:JWN)

AXQ Capital LP trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 50.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,851 shares of the specialty retailer’s stock after selling 26,145 shares during the period. AXQ Capital LP’s holdings in Nordstrom were worth $624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Quantinno Capital Management LP lifted its position in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after purchasing an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Nordstrom by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Nordstrom by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 39,104 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after acquiring an additional 31,498 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on JWN shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Barclays upped their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.50 to $24.00 in a research note on Friday, January 10th. StockNews.com initiated coverage on shares of Nordstrom in a research note on Sunday. They issued a “buy” rating for the company. Finally, Evercore ISI raised their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Stock Down 0.3 %

Shares of Nordstrom stock opened at $24.23 on Friday. Nordstrom, Inc. has a 52-week low of $17.21 and a 52-week high of $24.99. The firm’s 50 day moving average price is $24.26 and its 200-day moving average price is $23.50. 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 company has a market cap of $4.00 billion, a P/E ratio of 15.44 and a beta of 2.60.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) 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 business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. On average, sell-side analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, March 11th. Nordstrom’s dividend payout ratio is presently 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.