GABELLI & Co INVESTMENT ADVISERS INC. Invests $1.83 Million in Nordstrom, Inc. (NYSE:JWN)

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Nordstrom, Inc. (NYSE:JWN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 75,600 shares of the specialty retailer’s stock, valued at approximately $1,826,000.

A number of other hedge funds have also recently made changes to their positions in JWN. Spire Wealth Management boosted its position in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new stake in Nordstrom in the fourth quarter valued at approximately $63,000. Vestcor Inc purchased a new stake in shares of Nordstrom during the fourth quarter valued at approximately $63,000. Atlas Capital Advisors Inc. grew its holdings in Nordstrom by 45.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock worth $107,000 after acquiring an additional 1,391 shares during the last quarter. Finally, KBC Group NV increased its holdings in Nordstrom by 36.5% during the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after purchasing an additional 1,287 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Evercore ISI boosted their price objective 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. Citigroup restated a “sell” rating and issued a $22.00 price target (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Barclays lifted their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.80.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $24.06 on Tuesday. The firm’s 50 day moving average price is $24.19 and its 200-day moving average price is $23.68. 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 stock has a market capitalization of $4.02 billion, a PE ratio of 15.32 and a beta of 2.31. Nordstrom, Inc. has a twelve month low of $17.21 and a twelve month high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data 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 net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Equities research analysts expect that Nordstrom, Inc. will post 1.97 EPS for the current 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.