Retirement Systems of Alabama decreased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 51,207 shares of the specialty retailer’s stock after selling 1,651 shares during the quarter. Retirement Systems of Alabama’s holdings in Nordstrom were worth $2,273,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. CX Institutional bought a new stake in Nordstrom in the first quarter worth $41,000. Financial Advocates Investment Management boosted its holdings in Nordstrom by 67.4% in the fourth quarter. Financial Advocates Investment Management now owns 2,357 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 949 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Nordstrom by 4,156.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,830,753 shares in the last quarter. NuWave Investment Management LLC boosted its holdings in Nordstrom by 66.2% in the first quarter. NuWave Investment Management LLC now owns 2,036 shares of the specialty retailer’s stock worth $91,000 after acquiring an additional 811 shares in the last quarter. Finally, We Are One Seven LLC bought a new stake in Nordstrom in the fourth quarter worth $92,000. Institutional investors own 63.33% of the company’s stock.
Nordstrom stock traded down $3.50 during midday trading on Wednesday, reaching $34.35. 15,909,979 shares of the stock traded hands, compared to its average volume of 3,285,450. Nordstrom, Inc. has a 12 month low of $33.75 and a 12 month high of $67.75. The firm has a market cap of $5.75 billion, a PE ratio of 9.68, a PEG ratio of 1.66 and a beta of 0.48. The company has a current ratio of 1.00, a quick ratio of 0.41 and a debt-to-equity ratio of 3.07.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). Nordstrom had a net margin of 3.56% and a return on equity of 57.14%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts forecast that Nordstrom, Inc. will post 3.72 earnings per share for the current fiscal year.
In other Nordstrom news, insider Erik B. Nordstrom sold 1,169 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the sale, the insider now directly owns 2,671,406 shares in the company, valued at $119,411,848.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ken Worzel sold 17,125 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $770,625.00. Following the sale, the insider now owns 102,588 shares in the company, valued at $4,616,460. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,180 shares of company stock valued at $2,164,864. 5.21% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on the company. KeyCorp decreased their price target on Nordstrom from $55.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday. Telsey Advisory Group restated a “market perform” rating and issued a $37.00 price target (down previously from $56.00) on shares of Nordstrom in a research note on Wednesday. Citigroup reduced their price objective 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 reduced their price objective on Nordstrom from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Deutsche Bank reduced their price objective on Nordstrom from $47.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. Nordstrom presently has an average rating of “Hold” and an average target price of $44.69.
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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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