Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,293 shares of the specialty retailer’s stock after selling 5,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Nordstrom worth $5,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. purchased a new stake in shares of Nordstrom in the 3rd quarter valued at approximately $556,000. Korea Investment CORP raised its stake in shares of Nordstrom by 60.8% in the 3rd quarter. Korea Investment CORP now owns 158,466 shares of the specialty retailer’s stock valued at $9,478,000 after acquiring an additional 59,900 shares during the period. Ibex Investors LLC purchased a new stake in shares of Nordstrom in the 3rd quarter valued at approximately $202,000. Empowered Funds LLC purchased a new stake in shares of Nordstrom in the 4th quarter valued at approximately $1,084,000. Finally, Confluence Investment Management LLC raised its stake in shares of Nordstrom by 1.0% in the 3rd quarter. Confluence Investment Management LLC now owns 206,057 shares of the specialty retailer’s stock valued at $12,324,000 after acquiring an additional 2,054 shares during the period. Institutional investors own 61.41% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Wedbush assumed coverage on shares of Nordstrom in a research note on Wednesday, October 31st. They issued a $59.00 price target on the stock. Gordon Haskett downgraded shares of Nordstrom from a “hold” rating to a “reduce” rating in a research note on Thursday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $60.00 price objective on shares of Nordstrom in a report on Friday, November 16th. Guggenheim restated a “hold” rating on shares of Nordstrom in a report on Thursday, November 15th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a report on Friday, November 16th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. Nordstrom has an average rating of “Hold” and a consensus price target of $53.81.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.03. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.68 billion. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%. As a group, equities research analysts expect that Nordstrom, Inc. will post 3.56 EPS for the current fiscal year.
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Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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