Nordstrom, Inc. (NYSE:JWN) Shares Purchased by Duality Advisers LP

Duality Advisers LP raised its stake in Nordstrom, Inc. (NYSE:JWN) by 148.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,317 shares of the specialty retailer’s stock after acquiring an additional 112,613 shares during the quarter. Duality Advisers LP owned approximately 0.12% of Nordstrom worth $3,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Nordstrom during the third quarter worth about $45,000. Impact Partnership Wealth LLC acquired a new stake in shares of Nordstrom during the 3rd quarter valued at $115,000. Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Nordstrom in the fourth quarter valued at $119,000. Gallacher Capital Management LLC acquired a new position in shares of Nordstrom in the third quarter worth $166,000. Finally, AE Wealth Management LLC acquired a new position in Nordstrom during the third quarter worth $168,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of NYSE JWN opened at $18.79 on Tuesday. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.53. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The company’s 50-day moving average is $19.22 and its 200 day moving average is $17.43. The stock has a market capitalization of $3.07 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.14 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Nordstrom’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that Nordstrom, Inc. will post 1.81 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.04%. Nordstrom’s dividend payout ratio is 95.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JWN shares. Bank of America raised their price target on Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Wednesday, March 6th. Barclays increased their target price on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $19.00 target price on shares of Nordstrom in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, March 6th. Finally, Piper Sandler lifted their price target on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average target price of $16.54.

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.