Raymond James Financial Services Advisors Inc. boosted its stake in Nordstrom, Inc. (NYSE:JWN) by 89.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,068 shares of the specialty retailer’s stock after buying an additional 20,867 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Nordstrom were worth $2,108,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Gemmer Asset Management LLC increased its holdings in shares of Nordstrom by 0.8% during the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 18 shares during the period. NEXT Financial Group Inc increased its holdings in shares of Nordstrom by 55.4% during the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 942 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Nordstrom by 6,460.5% during the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 2,778 shares during the period. Sei Investments Co. boosted its stake in Nordstrom by 32.0% during the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 771 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in Nordstrom by 8.2% during the second quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock valued at $153,000 after buying an additional 242 shares in the last quarter. 63.07% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages recently weighed in on JWN. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Nordstrom in a research note on Thursday, October 19th. KeyCorp set a $55.00 target price on Nordstrom and gave the company a “buy” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 target price on shares of Nordstrom in a research note on Thursday, October 5th. Cowen and Company reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. Finally, Gordon Haskett cut Nordstrom from an “accumulate” rating to a “hold” rating in a research note on Wednesday, September 13th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. Nordstrom currently has an average rating of “Hold” and a consensus target price of $47.77.
Shares of Nordstrom, Inc. (NYSE JWN) traded down 2.94% on Friday, hitting $40.97. The company had a trading volume of 2,331,480 shares. The firm has a market capitalization of $6.81 billion, a P/E ratio of 19.41 and a beta of 0.85. Nordstrom, Inc. has a 12-month low of $39.53 and a 12-month high of $62.82. The firm has a 50 day moving average of $44.68 and a 200-day moving average of $45.60.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 EPS. On average, equities analysts predict that Nordstrom, Inc. will post $2.98 EPS for the current year.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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