State Treasurer State of Michigan Sells 1,700 Shares of Nordstrom, Inc. (JWN)
State Treasurer State of Michigan decreased its stake in Nordstrom, Inc. (NYSE:JWN) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,892 shares of the specialty retailer’s stock after selling 1,700 shares during the period. State Treasurer State of Michigan’s holdings in Nordstrom were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Two Sigma Advisers LP increased its position in shares of Nordstrom by 27.8% during the fourth quarter. Two Sigma Advisers LP now owns 749,087 shares of the specialty retailer’s stock valued at $34,915,000 after acquiring an additional 163,000 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in Nordstrom by 18.9% in the fourth quarter. Stone Ridge Asset Management LLC now owns 23,287 shares of the specialty retailer’s stock worth $1,085,000 after buying an additional 3,699 shares during the last quarter. Empowered Funds LLC purchased a new stake in Nordstrom in the fourth quarter worth $1,084,000. White Pine Capital LLC increased its position in Nordstrom by 5.7% in the fourth quarter. White Pine Capital LLC now owns 18,630 shares of the specialty retailer’s stock worth $868,000 after buying an additional 1,000 shares during the last quarter. Finally, Vanguard Group Inc increased its position in Nordstrom by 1.5% in the third quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after buying an additional 178,581 shares during the last quarter. Institutional investors own 60.17% of the company’s stock.
A number of analysts have issued reports on the company. Cowen decreased their target price on Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a research report on Thursday. Telsey Advisory Group reissued a “market perform” rating and issued a $37.00 target price (down from $56.00) on shares of Nordstrom in a research report on Wednesday. Citigroup decreased their target price on Nordstrom from $48.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday. Credit Suisse Group decreased their target price on Nordstrom from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, KeyCorp decreased their target price on Nordstrom from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Nordstrom currently has an average rating of “Hold” and an average target price of $43.73.
NYSE:JWN traded down $0.05 during trading hours on Thursday, hitting $34.30. 80,841 shares of the company’s stock traded hands, compared to its average volume of 3,208,592. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 1.70 and a beta of 0.48. Nordstrom, Inc. has a 52 week low of $33.75 and a 52 week high of $67.75. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.41 and a current ratio of 1.00.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 52.45%. During the same period in the prior year, the business posted $0.51 EPS. Equities analysts forecast that Nordstrom, Inc. will post 3.72 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “State Treasurer State of Michigan Sells 1,700 Shares of Nordstrom, Inc. (JWN)” was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://theolympiareport.com/2019/05/23/state-treasurer-state-of-michigan-sells-1700-shares-of-nordstrom-inc-jwn.html.
Nordstrom, Inc, a fashion retailer, provides apparel, 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.
Read More: How Does the Quiet Period Work?
Want to see what other hedge funds are holding JWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nordstrom, Inc. (NYSE:JWN).
Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.