Smead Capital Management Inc. cut its position in Nordstrom, Inc. (NYSE:JWN) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 939,762 shares of the specialty retailer’s stock after selling 5,222 shares during the period. Nordstrom comprises 2.2% of Smead Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Smead Capital Management Inc. owned approximately 0.57% of Nordstrom worth $44,949,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Ledyard National Bank boosted its stake in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,758 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Nordstrom during the first quarter valued at $113,000. Finally, NEXT Financial Group Inc boosted its stake in shares of Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after buying an additional 942 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors.
Nordstrom, Inc. (NYSE JWN) traded up 0.07% during trading on Friday, hitting $44.90. The stock had a trading volume of 6,548,321 shares. Nordstrom, Inc. has a 12-month low of $39.53 and a 12-month high of $62.82. The stock’s 50 day moving average price is $47.32 and its 200 day moving average price is $45.51. The firm has a market cap of $7.46 billion, a P/E ratio of 21.27 and a beta of 0.83.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a return on equity of 71.19% and a net margin of 2.44%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the company earned $0.67 EPS. Nordstrom’s revenue was up 3.5% on a year-over-year basis. On average, analysts anticipate that Nordstrom, Inc. will post $2.96 EPS for the current fiscal year.
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Several research analysts recently weighed in on JWN shares. Atlantic Securities upgraded shares of Nordstrom from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $58.00 in a research report on Thursday, May 4th. Zacks Investment Research raised Nordstrom from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Maxim Group set a $61.00 target price on Nordstrom and gave the stock a “buy” rating in a research note on Thursday, May 4th. Gordon Haskett started coverage on Nordstrom in a research note on Tuesday, May 9th. They issued an “accumulate” rating and a $54.00 target price for the company. Finally, TheStreet raised Nordstrom from a “c” rating to a “b-” rating in a research note on Wednesday, April 26th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.34.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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