Nordstrom (JWN) : D.a. Davidson reduced its stake in Nordstrom by 8.9% during the most recent quarter end. The investment management company now holds a total of 434,504 shares of Nordstrom which is valued at $25,874,713 after selling 42,443 shares in Nordstrom , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Nordstrom makes up approximately 0.65% of D.a. Davidson’s portfolio.
Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in JWN by selling 1,170 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 186,559 shares of JWN which is valued at $10,954,744. Nordstrom makes up approx 0.05% of Panagora Asset Management Inc’s portfolio.Bollard Group boosted its stake in JWN in the latest quarter, The investment management firm added 171 additional shares and now holds a total of 508 shares of Nordstrom which is valued at $27,447.Gateway Investment Advisers reduced its stake in JWN by selling 16,725 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 343,502 shares of JWN which is valued at $18,820,475. Nordstrom makes up approx 0.17% of Gateway Investment Advisers’s portfolio.Central Trust Co reduced its stake in JWN by selling 57 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 2,687 shares of JWN which is valued at $147,221. Nordstrom makes up approx 0.01% of Central Trust Co’s portfolio.Cwm reduced its stake in JWN by selling 40,249 shares or 66.33% in the most recent quarter. The Hedge Fund company now holds 20,427 shares of JWN which is valued at $1,095,500. Nordstrom makes up approx 0.08% of Cwm’s portfolio.
Nordstrom opened for trading at $57.81 and hit $59.5 on the upside on Monday, eventually ending the session at $58.94, with a gain of 0.75% or 0.44 points. The heightened volatility saw the trading volume jump to 40,53,673 shares. Company has a market cap of $10,208 M.
On the company’s financial health, Nordstrom reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Nov 10, 2016. Analyst had a consensus of $0.52. The company had revenue of $3472.00 million for the quarter, compared to analysts expectations of $3431.53 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.
Investors should note that on Nov 16, 2016, Nordstrom announced a cash dividend of $0.3700. The company’s management has announced Nov 23, 2016 as the ex-dividend date and fixed the record date on Nov 28, 2016. The payable date has been fixed on Dec 13, 2016.
Many Wall Street Analysts have commented on Nordstrom. Company shares were Reiterated by Maxim Group on Nov 11, 2016 to “Buy”, Firm has raised the Price Target to $ 61 from a previous price target of $54 .Company shares were Reiterated by Telsey Advisory Group on Nov 11, 2016 to “Market Perform”, Firm has raised the Price Target to $ 60 from a previous price target of $53 .Shares were Downgraded by Deutsche Bank on Oct 31, 2016 to ” Hold” and Lowered the Price Target to $ 56 from a previous price target of $57 .
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.