Asahi Life Asset Management CO. LTD. bought a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 4,470 shares of the specialty retailer’s stock, valued at approximately $198,000.
Other hedge funds also recently made changes to their positions in the company. CX Institutional acquired a new stake in Nordstrom during the 1st quarter worth approximately $41,000. Quadrant Capital Group LLC acquired a new stake in shares of Nordstrom in the first quarter valued at approximately $48,000. Pinnacle Financial Partners Inc. acquired a new stake in shares of Nordstrom in the first quarter valued at approximately $51,000. Whittier Trust Co. acquired a new stake in shares of Nordstrom in the first quarter valued at approximately $53,000. Finally, Buffington Mohr McNeal acquired a new stake in shares of Nordstrom in the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.
NYSE:JWN opened at $36.93 on Friday. Nordstrom, Inc. has a 1-year low of $36.90 and a 1-year high of $67.75. The company has a debt-to-equity ratio of 3.07, a current ratio of 1.00 and a quick ratio of 0.41. The firm has a market capitalization of $5.83 billion, a P/E ratio of 10.40, a PEG ratio of 1.67 and a beta of 0.48.
In related news, insider Erik B. Nordstrom sold 1,169 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $44.70, for a total value of $52,254.30. Following the completion of the transaction, the insider now directly owns 2,671,406 shares of the company’s stock, valued at $119,411,848.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ken Worzel sold 17,125 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $770,625.00. Following the completion of the transaction, the insider now directly owns 102,588 shares of the company’s stock, valued at $4,616,460. The disclosure for this sale can be found here. Insiders sold 49,180 shares of company stock valued at $2,164,864 over the last three months. 5.21% of the stock is owned by company insiders.
A number of research firms have recently issued reports on JWN. Gordon Haskett downgraded shares of Nordstrom from a “hold” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a report on Thursday, March 21st. Wedbush downgraded shares of Nordstrom from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $65.00 to $40.00 in a report on Thursday, May 9th. Bank of America reiterated an “underperform” rating and issued a $40.00 price objective (down from $48.00) on shares of Nordstrom in a report on Wednesday. Deutsche Bank lowered their price objective on shares of Nordstrom from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, March 1st. Finally, Guggenheim reiterated a “hold” rating on shares of Nordstrom in a report on Thursday, February 28th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.69.
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.
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