Proficio Capital Partners LLC Invests $365,000 in Nordstrom, Inc. (NYSE:JWN)

Proficio Capital Partners LLC acquired a new stake in Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,118 shares of the specialty retailer’s stock, valued at approximately $365,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JWN. Spire Wealth Management raised its position in shares of Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,000 shares during the period. Wolverine Asset Management LLC acquired a new position in Nordstrom in the 4th quarter valued at $63,000. KBC Group NV raised its holdings in 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 acquiring an additional 1,287 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Nordstrom during the 4th quarter worth $122,000. Finally, Blue Trust Inc. boosted its holdings in Nordstrom by 51.9% during the fourth quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 1,993 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Evercore ISI upped their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Finally, UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.90.

Nordstrom Price Performance

NYSE:JWN opened at $24.40 on Wednesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The company has a 50-day moving average of $24.27 and a 200-day moving average of $23.53. Nordstrom, Inc. has a 52 week low of $17.21 and a 52 week high of $24.99. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 15.54 and a beta of 2.60.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping 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 analysts’ expectations of $4.32 billion. As a group, equities research analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Nordstrom Company 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.