Brandywine Global Investment Management LLC Raises Stock Position in Nordstrom, Inc. (NYSE:JWN)

Brandywine Global Investment Management LLC grew its holdings in Nordstrom, Inc. (NYSE:JWN) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 505,060 shares of the specialty retailer’s stock after purchasing an additional 40,697 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Nordstrom were worth $12,197,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

JWN has been the subject of several research reports. StockNews.com assumed coverage on shares of Nordstrom in a research report on Monday. They issued a “buy” rating for the company. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. 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. Barclays increased their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI raised their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Price Performance

Nordstrom stock opened at $24.47 on Tuesday. The firm has a market capitalization of $4.04 billion, a PE 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 firm’s 50-day simple moving average is $24.30 and its 200 day simple moving average is $23.59. 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 (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. On average, equities research analysts predict that Nordstrom, Inc. will post 1.97 EPS 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.