Mitsubishi UFJ Trust & Banking Corp Raises Stake in Nordstrom, Inc. (NYSE:JWN)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 347,164 shares of the specialty retailer’s stock after acquiring an additional 43,544 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Nordstrom were worth $8,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of JWN. Charles Schwab Investment Management Inc. raised its stake in Nordstrom by 17.1% during 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nordstrom by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock valued at $6,985,000 after buying an additional 7,139 shares during the period. Maverick Capital Ltd. lifted its holdings in Nordstrom by 45.8% in the third quarter. Maverick Capital Ltd. now owns 173,262 shares of the specialty retailer’s stock valued at $3,897,000 after acquiring an additional 54,428 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Nordstrom in the third quarter worth approximately $6,171,000. Finally, Point72 Asset Management L.P. increased its stake in Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after acquiring an additional 39,104 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Evercore ISI upped their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com started coverage on shares of Nordstrom in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Finally, Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average target price of $22.90.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.48 on Friday. The firm has a 50 day moving average of $24.29 and a two-hundred day moving average of $23.57. The stock has a market capitalization of $4.04 billion, a PE ratio of 15.59 and a beta of 2.60. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 52 week low of $17.21 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.32 billion. On average, research analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

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.