Washington Trust Bank Lowers stake in Nordstrom (JWN)

Nordstrom (JWN) : Washington Trust Bank reduced its stake in Nordstrom by 4.83% during the most recent quarter end. The investment management company now holds a total of 27,504 shares of Nordstrom which is valued at $1,457,712 after selling 1,395 shares in Nordstrom , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Nordstrom makes up approximately 0.35% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including ,

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 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *