KBC Group NV Reduces Stake in Nordstrom, Inc. (JWN)
KBC Group NV trimmed its position in Nordstrom, Inc. (NYSE:JWN) by 29.7% in the fourth quarter, Holdings Channel reports. The fund owned 33,785 shares of the specialty retailer’s stock after selling 14,273 shares during the quarter. KBC Group NV’s holdings in Nordstrom were worth $1,575,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. We Are One Seven LLC acquired a new stake in Nordstrom during the 4th quarter worth about $92,000. Quantamental Technologies LLC acquired a new stake in shares of Nordstrom in the 4th quarter valued at about $97,000. Federated Investors Inc. PA grew its stake in shares of Nordstrom by 22.4% in the 3rd quarter. Federated Investors Inc. PA now owns 1,639 shares of the specialty retailer’s stock valued at $98,000 after buying an additional 300 shares during the period. First Hawaiian Bank acquired a new stake in shares of Nordstrom in the 3rd quarter valued at about $113,000. Finally, Captrust Financial Advisors grew its stake in shares of Nordstrom by 426.1% in the 3rd quarter. Captrust Financial Advisors now owns 2,099 shares of the specialty retailer’s stock valued at $126,000 after buying an additional 1,700 shares during the period. Institutional investors own 61.41% of the company’s stock.
JWN has been the subject of several research reports. JPMorgan Chase & Co. downgraded Nordstrom from a “neutral” rating to an “underweight” rating in a research note on Wednesday, January 16th. Piper Jaffray Companies lowered their price target on shares of Nordstrom to $43.00 and set a “neutral” rating on the stock in a report on Wednesday, January 16th. Wedbush raised shares of Nordstrom from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $75.00 in a report on Tuesday, October 30th. Goldman Sachs Group lowered shares of Nordstrom from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $73.00 to $50.00 in a research note on Wednesday, January 16th. Finally, Atlantic Securities lowered shares of Nordstrom from an “overweight” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Wednesday, January 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. Nordstrom has an average rating of “Hold” and a consensus price target of $53.81.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.03. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.68 billion. Sell-side analysts predict that Nordstrom, Inc. will post 3.56 EPS for the current year.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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