Nordstrom, Inc. (NYSE:JWN) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its position in Nordstrom, Inc. (NYSE:JWN - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 278,951 shares of the specialty retailer's stock after selling 111,195 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of Nordstrom worth $6,737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Nordstrom by 18.3% during the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer's stock worth $70,331,000 after acquiring an additional 450,539 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Nordstrom in the 4th quarter worth approximately $56,026,000. Charles Schwab Investment Management Inc. boosted its stake in Nordstrom by 20.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer's stock worth $41,356,000 after buying an additional 289,596 shares in the last quarter. Geode Capital Management LLC grew its position in Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer's stock valued at $36,570,000 after acquiring an additional 5,407 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Nordstrom during the fourth quarter worth approximately $33,480,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Nordstrom Price Performance

NYSE:JWN traded up $0.02 during trading hours on Thursday, hitting $24.15. 376,238 shares of the stock were exchanged, compared to its average volume of 2,595,556. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 52-week low of $18.57 and a 52-week high of $24.99. The company has a market cap of $4.04 billion, a P/E ratio of 15.37 and a beta of 2.31. The firm's fifty day moving average price is $24.14 and its 200 day moving average price is $23.75.

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

Analysts Set New Price Targets

JWN has been the topic of several analyst reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th. Barclays raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and upped their price target for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Citigroup reiterated a "sell" rating and issued a $22.00 price target (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $22.80.

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.