Welch & Forbes LLC Trims Stock Position in Nordstrom, Inc. (NYSE:JWN)

Welch & Forbes LLC cut its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,589 shares of the specialty retailer’s stock after selling 1,263 shares during the quarter. Welch & Forbes LLC’s holdings in Nordstrom were worth $360,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Madison Asset Management LLC increased its holdings in Nordstrom by 188.4% during the second quarter. Madison Asset Management LLC now owns 114,800 shares of the specialty retailer’s stock valued at $4,198,000 after buying an additional 75,000 shares during the period. Amalgamated Bank increased its holdings in Nordstrom by 566.7% during the second quarter. Amalgamated Bank now owns 90,772 shares of the specialty retailer’s stock valued at $3,320,000 after buying an additional 77,157 shares during the period. Cinctive Capital Management LP increased its holdings in Nordstrom by 31.2% during the second quarter. Cinctive Capital Management LP now owns 65,707 shares of the specialty retailer’s stock valued at $2,403,000 after buying an additional 15,641 shares during the period. LPL Financial LLC increased its holdings in Nordstrom by 36.7% during the second quarter. LPL Financial LLC now owns 63,256 shares of the specialty retailer’s stock valued at $2,313,000 after buying an additional 16,977 shares during the period. Finally, Zeke Capital Advisors LLC purchased a new position in Nordstrom during the second quarter valued at approximately $27,499,000. 59.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of JWN stock opened at $22.66 on Thursday. The firm’s 50 day moving average price is $29.58 and its 200-day moving average price is $32.47. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90. Nordstrom, Inc. has a one year low of $22.35 and a one year high of $46.45. The firm has a market cap of $3.60 billion, a P/E ratio of -2,266.00, a P/E/G ratio of 3.74 and a beta of 2.37.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Monday, November 22nd. The specialty retailer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.17). The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.54 billion. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. As a group, research analysts predict that Nordstrom, Inc. will post 1.46 EPS for the current fiscal year.

JWN has been the topic of several research reports. Citigroup cut their price objective on shares of Nordstrom from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Jefferies Financial Group lowered shares of Nordstrom from a “buy” rating to a “hold” rating and cut their price target for the stock from $48.00 to $30.00 in a report on Wednesday. TheStreet raised shares of Nordstrom from a “d+” rating to a “c” rating in a report on Tuesday, August 24th. William Blair reaffirmed a “market perform” rating on shares of Nordstrom in a report on Wednesday. Finally, Gordon Haskett lowered shares of Nordstrom from a “buy” rating to a “hold” rating and cut their price target for the stock from $42.00 to $34.00 in a report on Thursday, November 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.88.

About Nordstrom

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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