The Manufacturers Life Insurance Company lowered its stake in Nordstrom, Inc. (NYSE:JWN) by 17.5% during the third quarter, Holdings Channel reports. The firm owned 143,114 shares of the specialty retailer’s stock after selling 30,462 shares during the period. The Manufacturers Life Insurance Company’s holdings in Nordstrom were worth $1,706,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Nordstrom by 1,183.6% during the second quarter. FMR LLC now owns 3,702,779 shares of the specialty retailer’s stock worth $57,357,000 after buying an additional 3,414,318 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Nordstrom during the 2nd quarter worth approximately $19,256,000. Morgan Stanley boosted its position in shares of Nordstrom by 143.3% during the 1st quarter. Morgan Stanley now owns 1,480,408 shares of the specialty retailer’s stock worth $22,711,000 after acquiring an additional 872,014 shares in the last quarter. Victory Capital Management Inc. increased its stake in Nordstrom by 1,612.8% in the second quarter. Victory Capital Management Inc. now owns 669,412 shares of the specialty retailer’s stock valued at $10,369,000 after acquiring an additional 630,330 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its position in Nordstrom by 47.0% during the third quarter. Douglas Lane & Associates LLC now owns 1,626,856 shares of the specialty retailer’s stock valued at $19,392,000 after purchasing an additional 519,825 shares in the last quarter. 64.87% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on JWN. Credit Suisse Group lifted their price target on Nordstrom from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, November 25th. Smith Barney Citigroup lifted their target price on Nordstrom from $17.00 to $26.00 in a research report on Wednesday, November 25th. Morgan Stanley dropped their target price on shares of Nordstrom from $21.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, August 26th. Barclays lifted their price target on shares of Nordstrom from $12.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, November 25th. Finally, Wedbush dropped their price objective on shares of Nordstrom from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $26.50.
NYSE JWN opened at $29.52 on Friday. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -8.73 and a beta of 1.58. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 10.98. Nordstrom, Inc. has a twelve month low of $11.72 and a twelve month high of $43.37. The stock has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $15.98.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Monday, November 23rd. The specialty retailer reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.40. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. Nordstrom had a negative return on equity of 77.24% and a negative net margin of 4.57%. During the same quarter in the previous year, the company posted $0.81 EPS. Research analysts expect that Nordstrom, Inc. will post -3.08 earnings per share for the current fiscal year.
Nordstrom, Inc, a fashion retailer, provides apparels, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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