Commonwealth Equity Services LLC Cuts Stock Position in Nordstrom, Inc. (NYSE:JWN)

Commonwealth Equity Services LLC cut its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 32.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,913 shares of the specialty retailer's stock after selling 60,727 shares during the quarter. Commonwealth Equity Services LLC owned 0.08% of Nordstrom worth $3,041,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Landscape Capital Management L.L.C. purchased a new stake in shares of Nordstrom during the third quarter worth about $212,000. Charles Schwab Investment Management Inc. increased its stake in Nordstrom by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer's stock worth $32,000,000 after buying an additional 208,193 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Nordstrom by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer's stock valued at $6,985,000 after acquiring an additional 7,139 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer's stock valued at $27,401,000 after acquiring an additional 725,803 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its stake in shares of Nordstrom by 45.8% in the third quarter. Maverick Capital Ltd. now owns 173,262 shares of the specialty retailer's stock worth $3,897,000 after acquiring an additional 54,428 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Nordstrom Trading Up 0.1 %

Shares of JWN stock traded up $0.03 during trading on Friday, hitting $24.48. 1,232,669 shares of the stock traded hands, compared to its average volume of 2,497,045. Nordstrom, Inc. has a 52-week low of $17.21 and a 52-week high of $24.99. The firm has a market capitalization of $4.04 billion, a P/E ratio of 15.59 and a beta of 2.60. The firm's fifty day moving average price is $24.29 and its 200-day moving average price is $23.57. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN - Get Free Report) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.20. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, research analysts forecast that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on JWN shares. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. UBS Group raised 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 note on Friday, January 10th. Evercore ISI upped their price objective 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, StockNews.com initiated coverage on shares of Nordstrom in a research note on Sunday, March 23rd. They issued a "buy" rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom presently has an average rating of "Hold" and a consensus price target of $22.90.

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.