Nordstrom, Inc. (NYSE:JWN) Stake Cut by Aperio Group LLC
Aperio Group LLC lowered its position in Nordstrom, Inc. (NYSE:JWN) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,364 shares of the specialty retailer’s stock after selling 11,565 shares during the period. Aperio Group LLC owned about 0.05% of Nordstrom worth $4,083,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in JWN. Parallel Advisors LLC increased 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 during the period. Gemmer Asset Management LLC increased 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 during the period. Ledyard National Bank increased 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 worth $110,000 after buying an additional 1,758 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Nordstrom during the first quarter worth about $113,000. Finally, NEXT Financial Group Inc increased 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 worth $126,000 after buying an additional 942 shares during the period. 64.22% of the stock is owned by institutional investors.
Shares of Nordstrom, Inc. (NYSE JWN) traded up 1.57% during midday trading on Thursday, reaching $47.22. The company’s stock had a trading volume of 1,039,531 shares. The stock has a 50 day moving average of $47.44 and a 200-day moving average of $45.41. Nordstrom, Inc. has a 1-year low of $39.05 and a 1-year high of $62.82. The company has a market capitalization of $7.84 billion, a P/E ratio of 22.11 and a beta of 0.83.
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A number of brokerages have issued reports on JWN. BMO Capital Markets set a $48.00 price target on Nordstrom and gave the stock a “hold” rating in a report on Saturday, May 13th. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the stock a “hold” rating in a report on Saturday, May 13th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the stock a “hold” rating in a report on Saturday, May 13th. UBS AG reaffirmed a “buy” rating and set a $51.00 price target on shares of Nordstrom in a report on Monday, May 15th. Finally, J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $48.00 price target on shares of Nordstrom in a report on Friday, July 14th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. Nordstrom has a consensus rating of “Hold” and an average target price of $47.23.
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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