Cim Investment Mangement Inc Lowers stake in Nordstrom (JWN)

Nordstrom (JWN) : Cim Investment Mangement Inc reduced its stake in Nordstrom by 4.33% during the most recent quarter end. The investment management company now holds a total of 15,898 shares of Nordstrom which is valued at $816,839 after selling 720 shares in Nordstrom , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Nordstrom makes up approximately 0.32% of Cim Investment Mangement Inc’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md reduced its stake in JWN by selling 646 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 241,573 shares of JWN which is valued at $12,412,021.Mitsubishi Ufj Trust Banking Corp reduced its stake in JWN by selling 4,881 shares or 1.68% in the most recent quarter. The Hedge Fund company now holds 285,502 shares of JWN which is valued at $14,669,093. Nordstrom makes up approx 0.03% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Edmond De Rothschild Asset Management (france) boosted its stake in JWN in the latest quarter, The investment management firm added 7,300 additional shares and now holds a total of 21,300 shares of Nordstrom which is valued at $1,094,394. Nordstrom makes up approx 0.05% of Edmond De Rothschild Asset Management (france)’s portfolio.Fuller Thaler Asset Management boosted its stake in JWN in the latest quarter, The investment management firm added 5,900 additional shares and now holds a total of 8,700 shares of Nordstrom which is valued at $378,885. Nordstrom makes up approx 0.01% of Fuller Thaler Asset Management’s portfolio.Tradewinds Capital Management boosted its stake in JWN in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 10,514 shares of Nordstrom which is valued at $465,034. Nordstrom makes up approx 0.32% of Tradewinds Capital Management’s portfolio.

Nordstrom opened for trading at $50.76 and hit $51.11 on the upside on Thursday, eventually ending the session at $51.03, with a gain of 1.13% or 0.57 points. The heightened volatility saw the trading volume jump to 25,38,917 shares. Company has a market cap of $8,851 M.

On the company’s financial health, Nordstrom reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.56. The company had revenue of $3592.00 million for the quarter, compared to analysts expectations of $3617.50 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Nordstrom. Company shares were Reiterated by RBC Capital Mkts on Aug 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $38 .Company shares were Reiterated by Stifel on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $44 .Company shares were Reiterated by Telsey Advisory Group on Aug 12, 2016 to “Market Perform”, Firm has raised the Price Target to $ 53 from a previous price target of $40 .

Nordstrom Inc. is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com approximately 167 off-price Nordstrom Rack stores two Canada full-line stores Nordstromrack.com and HauteLook and other retail channels including five Trunk Club showrooms and TrunkClub.com its two Jeffrey boutiques and one clearance store that operates under the name Last Chance. Credit segment includes its wholly owned federal savings bank Nordstrom fsb through which it provides a private label credit card two Nordstrom VISA credit cards and a debit card. The Company operated 290 United States stores located in 38 states as well as an e-commerce business through Nordstrom.com Nordstromrack.com and HauteLook and TrunkClub.com as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.

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