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

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 347,164 shares of the specialty retailer’s stock after buying an additional 43,544 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.21% of Nordstrom worth $8,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JWN. Hennessy Advisors Inc. purchased a new position in shares of Nordstrom during the fourth quarter worth $56,026,000. Great Lakes Advisors LLC purchased a new position in shares of Nordstrom during the 4th quarter valued at about $21,736,000. American Century Companies Inc. lifted its holdings 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 buying an additional 450,539 shares during the period. Versor Investments LP purchased a new stake in shares of Nordstrom in the fourth quarter worth about $9,409,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Nordstrom by 20.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after acquiring an additional 289,596 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and issued 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 boosted their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. StockNews.com began coverage on shares of Nordstrom in a research report on Sunday, March 23rd. They set a “buy” rating on the stock. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Barclays raised 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. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.90.

Nordstrom Price Performance

NYSE:JWN opened at $24.48 on Friday. The firm has a market cap of $4.04 billion, a P/E ratio of 15.59 and a beta of 2.60. The stock has a 50 day moving average of $24.29 and a two-hundred day moving average of $23.57. Nordstrom, Inc. has a 12 month low of $17.21 and a 12 month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $4.32 billion. On average, analysts expect 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.