Vanguard Group Inc. Cuts Holdings in Nordstrom, Inc. (NYSE:JWN)

Vanguard Group Inc. lessened its stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,629,378 shares of the specialty retailer's stock after selling 2,740,213 shares during the quarter. Vanguard Group Inc. owned about 6.44% of Nordstrom worth $256,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management boosted its stake in Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Nordstrom during the 4th quarter worth $63,000. Vestcor Inc purchased a new position in Nordstrom during the 4th quarter worth $63,000. KBC Group NV grew its stake in shares of Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer's stock worth $116,000 after acquiring an additional 1,287 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Nordstrom during the fourth quarter worth about $122,000. Institutional investors own 88.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Citigroup reiterated a "sell" rating and set a $22.00 price target (down from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Argus cut Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Barclays raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Finally, UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.80.

Remove Ads

Nordstrom Trading Up 2.8 %

Shares of NYSE:JWN traded up $0.65 during trading hours on Wednesday, hitting $23.76. 12,429,558 shares of the company's stock traded hands, compared to its average volume of 2,614,051. The firm has a market capitalization of $3.92 billion, a P/E ratio of 15.13 and a beta of 2.31. The business has a fifty day moving average price of $24.21 and a 200-day moving average price of $23.64. Nordstrom, Inc. has a 1 year low of $17.21 and a 1 year high of $24.99. 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Equities analysts expect that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

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.