Marshall Wace North America L.P. Makes New $244,000 Investment in Nordstrom, Inc. (NYSE:JWN)

Marshall Wace North America L.P. purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,500 shares of the specialty retailer’s stock, valued at approximately $244,000.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc boosted its position in Nordstrom by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after acquiring an additional 178,581 shares during the period. BlackRock Inc. raised its stake in shares of Nordstrom by 6.4% in the 4th quarter. BlackRock Inc. now owns 10,496,455 shares of the specialty retailer’s stock worth $489,241,000 after buying an additional 630,899 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 23.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock worth $325,721,000 after buying an additional 1,374,779 shares in the last quarter. Northern Trust Corp raised its stake in shares of Nordstrom by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,709,777 shares of the specialty retailer’s stock worth $79,693,000 after buying an additional 122,289 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Nordstrom by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock worth $76,815,000 after buying an additional 80,459 shares in the last quarter. Institutional investors own 62.39% of the company’s stock.

In related news, insider Peter E. Nordstrom sold 3,380 shares of Nordstrom stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the completion of the transaction, the insider now owns 2,530,989 shares in the company, valued at $82,155,902.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Deputy sold 4,812 shares of Nordstrom stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the transaction, the insider now owns 60,056 shares of the company’s stock, valued at approximately $1,957,225.04. The disclosure for this sale can be found here. 5.21% of the stock is owned by company insiders.

Shares of JWN traded up $0.35 during midday trading on Friday, hitting $29.72. The stock had a trading volume of 2,775,100 shares, compared to its average volume of 3,486,770. The firm has a 50 day moving average of $31.83. Nordstrom, Inc. has a twelve month low of $29.26 and a twelve month high of $67.75. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 1.47 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.24 and a debt-to-equity ratio of 6.34.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. During the same quarter in the previous year, the business earned $0.51 EPS. On average, sell-side analysts predict that Nordstrom, Inc. will post 3.32 earnings per share for the current fiscal year.

A number of analysts have recently commented on the company. Deutsche Bank set a $33.00 price objective on Urban Outfitters and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. set a €21.00 ($24.42) price target on Infineon Technologies and gave the company a “buy” rating in a research report on Wednesday, May 22nd. ValuEngine downgraded China Southern Airlines from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Piper Jaffray Companies decreased their price target on Pure Storage from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Finally, KeyCorp reissued a “buy” rating and set a $235.00 price objective on shares of Workday in a research report on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.11.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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