Vanguard Group Inc. Sells 2,740,213 Shares of Nordstrom, Inc. (NYSE:JWN)

Vanguard Group Inc. trimmed its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 20.5% in the fourth quarter, HoldingsChannel reports. The firm owned 10,629,378 shares of the specialty retailer’s stock after selling 2,740,213 shares during the quarter. Vanguard Group Inc. owned 0.06% of Nordstrom worth $256,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nordstrom by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock worth $6,985,000 after buying an additional 7,139 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Nordstrom during the third quarter worth approximately $6,171,000. Point72 Asset Management L.P. grew its position in shares of Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after purchasing an additional 39,104 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after purchasing an additional 47,923 shares during the period. Finally, Whitebox Advisors LLC lifted its holdings in Nordstrom by 4.3% during the 3rd quarter. Whitebox Advisors LLC now owns 108,957 shares of the specialty retailer’s stock worth $2,450,000 after purchasing an additional 4,500 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JWN has been the topic of a number of research reports. Barclays upped their price objective on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Citigroup restated a “sell” rating and set a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday. StockNews.com initiated coverage on shares of Nordstrom in a research report on Monday, March 31st. They issued a “buy” rating for the company. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and increased their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Trading Down 2.6 %

Shares of JWN stock opened at $23.33 on Friday. Nordstrom, Inc. has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The stock’s fifty day moving average price is $24.29 and its two-hundred day moving average price is $23.62. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The company has a market cap of $3.85 billion, a PE ratio of 14.86 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion for 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 predict that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

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.