Boltwood Capital Management buys $893,315 stake in Nordstrom (JWN)

Nordstrom (JWN) : Boltwood Capital Management scooped up 750 additional shares in Nordstrom during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 16,855 shares of Nordstrom which is valued at $893,315.Nordstrom makes up approximately 0.72% of Boltwood Capital Management’s portfolio.

Other Hedge Funds, Including , Chevy Chase Trust Holdings reduced its stake in JWN by selling 12,669 shares or 11.56% in the most recent quarter. The Hedge Fund company now holds 96,969 shares of JWN which is valued at $5,139,357. Nordstrom makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank reduced its stake in JWN by selling 1,395 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 27,504 shares of JWN which is valued at $1,457,712. Nordstrom makes up approx 0.35% of Washington Trust Bank’s portfolio.

Nordstrom opened for trading at $51.12 and hit $51.78 on the upside on Tuesday, eventually ending the session at $51.65, with a gain of 1.06% or 0.54 points. The heightened volatility saw the trading volume jump to 21,08,310 shares. Company has a market cap of $8,958 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. Nordstrom was Resumed by Guggenheim to “Buy” on Sep 30, 2016. 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 .

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 approximately 167 off-price Nordstrom Rack stores two Canada full-line stores and HauteLook and other retail channels including five Trunk Club showrooms and 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 and HauteLook and as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.

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