Michels Family Financial LLC Acquires New Position in Nordstrom, Inc. (NYSE:JWN)

Michels Family Financial LLC bought a new position in Nordstrom, Inc. (NYSE:JWN) in the 4th quarter, HoldingsChannel reports. The fund bought 29,985 shares of the specialty retailer’s stock, valued at approximately $724,000.

A number of other institutional investors have also made changes to their positions in the company. BCK Capital Management LP acquired a new stake in shares of Nordstrom during the fourth quarter worth $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nordstrom by 16.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock worth $8,709,000 after purchasing an additional 50,049 shares during the period. Towle & Co. acquired a new stake in Nordstrom in the fourth quarter worth $2,044,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Nordstrom during the 4th quarter valued at $164,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Nordstrom by 233.2% in the fourth quarter. Point72 Asset Management L.P. now owns 198,874 shares of the specialty retailer’s stock worth $4,803,000 after purchasing an additional 139,196 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on JWN shares. 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. Citigroup reissued a “sell” rating and set a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Finally, Wall Street Zen began coverage on shares of Nordstrom in a research note on Sunday, May 18th. They issued a “buy” rating for the company. Four research 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.80.

Nordstrom Trading Up 0.1%

NYSE JWN opened at $24.68 on Friday. The firm’s 50 day moving average price is $24.18 and its two-hundred day moving average price is $23.96. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom, Inc. has a twelve month low of $19.45 and a twelve month high of $24.99. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 15.72 and a beta of 2.36.

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, topping 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. Equities analysts anticipate 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.