Swiss National Bank Cuts Stake in Nordstrom, Inc. (NYSE:JWN)

Swiss National Bank trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,800 shares of the specialty retailer’s stock after selling 13,900 shares during the quarter. Swiss National Bank owned 0.12% of Nordstrom worth $4,680,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its holdings in Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after purchasing an additional 47,923 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after acquiring an additional 89,114 shares during the period. Point72 Asset Management L.P. raised its position in Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after acquiring an additional 39,104 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in Nordstrom by 160.9% in the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after acquiring an additional 31,498 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Trading Up 0.1 %

Nordstrom stock opened at $24.39 on Tuesday. The stock has a 50-day moving average price of $24.27 and a 200 day moving average price of $23.52. Nordstrom, Inc. has a 52 week low of $17.21 and a 52 week high of $24.99. The stock has a market cap of $4.02 billion, a PE ratio of 15.53 and a beta of 2.60. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Equities research analysts predict that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com began coverage on shares of Nordstrom in a research note on Sunday. They set a “buy” rating on the stock. Evercore ISI increased their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Profile

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.