Brandywine Global Investment Management LLC Acquires 40,697 Shares of Nordstrom, Inc. (NYSE:JWN)

Brandywine Global Investment Management LLC increased its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 505,060 shares of the specialty retailer’s stock after purchasing an additional 40,697 shares during the period. Brandywine Global Investment Management LLC owned 0.31% of Nordstrom worth $12,197,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Spire Wealth Management boosted its position in Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Nordstrom in the 4th quarter valued at about $63,000. Vestcor Inc acquired a new stake in Nordstrom in the fourth quarter valued at approximately $63,000. KBC Group NV boosted its position in shares of Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Nordstrom during the 4th quarter worth approximately $122,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Stock Performance

JWN opened at $24.47 on Tuesday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 15.58 and a beta of 2.60. The firm’s fifty day simple moving average is $24.30 and its two-hundred 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, Inc. has a 52-week low of $17.21 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.32 billion. Equities analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

JWN has been the subject of several research reports. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Barclays upped 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, Evercore ISI raised their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.90.

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.