Tidal Investments LLC Acquires 5,690 Shares of Nordstrom, Inc. (NYSE:JWN)

Tidal Investments LLC raised its holdings in Nordstrom, Inc. (NYSE:JWN) by 47.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,602 shares of the specialty retailer’s stock after buying an additional 5,690 shares during the quarter. Tidal Investments LLC’s holdings in Nordstrom were worth $396,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in JWN. Venturi Wealth Management LLC lifted its stake in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC boosted its stake in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Nordstrom during the second quarter valued at about $39,000. Point72 Hong Kong Ltd bought a new position in Nordstrom in the second quarter worth about $71,000. Finally, CWM LLC lifted its holdings in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after buying an additional 810 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.17 on Tuesday. The firm has a market cap of $3.99 billion, a P/E ratio of 15.40 and a beta of 2.56. Nordstrom, Inc. has a twelve month low of $16.63 and a twelve month high of $24.99. 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 company has a 50 day moving average of $23.18 and a 200 day moving average of $22.43.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts expect that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s payout ratio is presently 48.41%.

Analyst Ratings Changes

JWN has been the subject of several research reports. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Citigroup boosted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. BMO Capital Markets increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Evercore ISI boosted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 27th. Finally, Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and an average price target of $21.29.

About Nordstrom

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.