PNC Financial Services Group Inc. Sells 469 Shares of Nordstrom, Inc. (NYSE:JWN)

PNC Financial Services Group Inc. reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 16.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,361 shares of the specialty retailer’s stock after selling 469 shares during the period. PNC Financial Services Group Inc.’s holdings in Nordstrom were worth $57,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hennessy Advisors Inc. purchased a new position in Nordstrom in the fourth quarter valued at about $56,026,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Nordstrom by 20.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after purchasing an additional 289,596 shares during the period. Geode Capital Management LLC lifted its stake in Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after purchasing an additional 5,407 shares during the last quarter. Verition Fund Management LLC lifted its stake in Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the last quarter. Finally, Versor Investments LP bought a new position in Nordstrom during the fourth quarter valued at $9,409,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Stock Performance

NYSE JWN opened at $24.45 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom, Inc. has a 1-year low of $17.21 and a 1-year high of $24.99. The business has a 50 day simple moving average of $24.28 and a two-hundred day simple moving average of $23.53. The stock has a market capitalization of $4.03 billion, a PE ratio of 15.57 and a beta of 2.60.

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

Analyst Ratings Changes

Several research firms recently commented on JWN. StockNews.com started coverage on shares of Nordstrom in a report on Sunday. They issued a “buy” rating for the company. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Finally, Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.90.

Nordstrom Company 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.