Axxcess Wealth Management LLC Buys 1,600 Shares of Nordstrom, Inc. (NYSE:JWN)

Axxcess Wealth Management LLC raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 15.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,200 shares of the specialty retailer’s stock after purchasing an additional 1,600 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Nordstrom were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in JWN. Norges Bank bought a new stake in shares of Nordstrom in the 4th quarter worth approximately $23,572,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nordstrom by 64.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after acquiring an additional 1,104,604 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Nordstrom by 42.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after acquiring an additional 975,918 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Nordstrom by 44.9% in the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after acquiring an additional 820,390 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after acquiring an additional 579,001 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, May 31st. Bank of America lifted their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a research note on Friday, May 31st. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. Finally, Evercore ISI lifted their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom currently has an average rating of “Hold” and a consensus price target of $17.75.

Nordstrom Stock Up 4.8 %

NYSE:JWN opened at $22.11 on Friday. The company has a market capitalization of $3.62 billion, a PE ratio of 12.08, a P/E/G ratio of 2.53 and a beta of 2.62. The firm’s 50-day moving average price is $21.78 and its 200-day moving average price is $20.13. Nordstrom, Inc. has a 1-year low of $12.88 and a 1-year high of $24.03. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, equities analysts predict that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, June 4th. Nordstrom’s payout ratio is 41.53%.

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.