Kestra Advisory Services LLC Invests $393,000 in Nordstrom, Inc. (NYSE:JWN)

Kestra Advisory Services LLC acquired a new position in Nordstrom, Inc. (NYSE:JWN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,378 shares of the specialty retailer’s stock, valued at approximately $393,000.

Several other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Nordstrom by 78.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 103,449 shares of the specialty retailer’s stock worth $3,918,000 after buying an additional 45,610 shares during the last quarter. Davidson Kempner Capital Management LP bought a new position in Nordstrom in the fourth quarter valued at approximately $3,404,000. Alliancebernstein L.P. boosted its holdings in shares of Nordstrom by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 179,855 shares of the specialty retailer’s stock valued at $6,811,000 after purchasing an additional 1,699 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Nordstrom in the 4th quarter valued at $46,000. Finally, Mayar Capital Ltd. acquired a new stake in shares of Nordstrom in the 1st quarter valued at approximately $9,756,000. Institutional investors own 53.63% of the company’s stock.

NYSE:JWN opened at $34.33 on Friday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -16.19, a price-to-earnings-growth ratio of 4.92 and a beta of 2.43. Nordstrom, Inc. has a 52-week low of $11.72 and a 52-week high of $46.45. The company’s fifty day moving average is $36.93. The company has a debt-to-equity ratio of 17.15, a quick ratio of 0.38 and a current ratio of 0.87.

Nordstrom (NYSE:JWN) last announced its earnings results on Monday, May 24th. The specialty retailer reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.83 billion. Nordstrom had a negative net margin of 2.89% and a negative return on equity of 128.87%. The company’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.23) earnings per share. On average, sell-side analysts predict that Nordstrom, Inc. will post 1.17 EPS for the current fiscal year.

A number of analysts have weighed in on JWN shares. JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, May 17th. Jefferies Financial Group assumed coverage on shares of Nordstrom in a research report on Friday, March 12th. They set a “buy” rating and a $48.00 target price on the stock. Barclays upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, May 26th. TheStreet upgraded Nordstrom from a “d+” rating to a “c-” rating in a research report on Monday, May 24th. Finally, Telsey Advisory Group decreased their target price on Nordstrom from $44.00 to $36.00 in a research note on Wednesday, May 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Nordstrom currently has an average rating of “Hold” and an average price target of $33.33.

In other Nordstrom news, CMO Scott A. Meden sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $40.00, for a total value of $280,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 62,050 shares in the company, valued at approximately $2,482,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ken Worzel sold 13,762 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $41.20, for a total value of $566,994.40. Following the completion of the sale, the chief operating officer now directly owns 144,778 shares in the company, valued at $5,964,853.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,361 shares of company stock valued at $2,088,609 over the last ninety days. 5.55% of the stock is currently owned by insiders.

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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com, and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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