Oarsman Capital Inc. lowered its stake in Nordstrom, Inc. (NYSE:JWN) by 7.7% during the fourth quarter, Holdings Channel reports. The fund owned 10,845 shares of the company’s stock after selling 910 shares during the period. Oarsman Capital Inc.’s holdings in Nordstrom were worth $520,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ increased its position in Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the company’s stock valued at $141,701,000 after buying an additional 2,718,233 shares during the last quarter. Smith Asset Management Group LP acquired a new position in Nordstrom during the third quarter valued at approximately $62,974,000. JPMorgan Chase & Co. increased its position in Nordstrom by 26.4% in the third quarter. JPMorgan Chase & Co. now owns 4,294,122 shares of the company’s stock valued at $222,779,000 after buying an additional 897,203 shares during the last quarter. Perkins Investment Management LLC acquired a new position in Nordstrom during the third quarter valued at approximately $28,016,000. Finally, Honeywell International Inc. acquired a new position in Nordstrom during the second quarter valued at approximately $20,167,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nordstrom, Inc. (NYSE:JWN) traded up 2.29% during mid-day trading on Thursday, hitting $45.55. 5,420,358 shares of the company were exchanged. The company’s 50-day moving average price is $45.50 and its 200-day moving average price is $50.63. The firm has a market capitalization of $7.90 billion, a P/E ratio of 24.24 and a beta of 1.01. Nordstrom, Inc. has a 12-month low of $35.01 and a 12-month high of $62.82.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, November 10th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.32. The firm earned $3.47 billion during the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities research analysts predict that Nordstrom, Inc. will post $2.94 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Vetr raised Nordstrom from a “buy” rating to a “strong-buy” rating and set a $50.14 price target on the stock in a research report on Wednesday, January 18th. Cowen and Company reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Nordstrom in a research report on Wednesday, November 30th. Zacks Investment Research raised Nordstrom from a “sell” rating to a “hold” rating in a research report on Monday, November 7th. Maxim Group raised their price target on Nordstrom from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, November 11th. Finally, Deutsche Bank AG downgraded Nordstrom from a “buy” rating to a “hold” rating and lowered their price target for the company from $57.00 to $56.00 in a research report on Monday, October 31st. They noted that the move was a valuation call. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. Nordstrom has a consensus rating of “Hold” and a consensus price target of $48.44.
In other Nordstrom news, insider Daniel F. Little sold 19,704 shares of the business’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $59.62, for a total value of $1,174,752.48. Following the completion of the sale, the insider now owns 74,050 shares of the company’s stock, valued at approximately $4,414,861. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael G. Koppel sold 87,257 shares of the business’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $58.34, for a total transaction of $5,090,573.38. Following the completion of the sale, the insider now directly owns 164,275 shares of the company’s stock, valued at approximately $9,583,803.50. The disclosure for this sale can be found here. Insiders sold a total of 179,342 shares of company stock valued at $10,568,441 in the last three months. Insiders own 7.03% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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