West Coast Financial LLC reduced its position in Nordstrom, Inc. (NYSE:JWN) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,221 shares of the specialty retailer’s stock after selling 4,302 shares during the quarter. Nordstrom makes up about 1.7% of West Coast Financial LLC’s holdings, making the stock its 24th largest position. West Coast Financial LLC owned about 0.07% of Nordstrom worth $5,886,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Nordstrom by 1.9% in the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after buying an additional 150,539 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Nordstrom by 7.4% in the third quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock worth $92,752,000 after acquiring an additional 136,053 shares during the period. York Capital Management Global Advisors LLC bought a new position in shares of Nordstrom in the second quarter worth $75,623,000. APG Asset Management N.V. boosted its holdings in shares of Nordstrom by 6.8% in the third quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after acquiring an additional 97,000 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of Nordstrom by 1,155.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock worth $42,722,000 after acquiring an additional 822,038 shares during the period. 57.70% of the stock is owned by institutional investors and hedge funds.
JWN has been the subject of a number of analyst reports. KeyCorp set a $55.00 price target on Nordstrom and gave the stock a “buy” rating in a report on Wednesday, October 11th. Cowen reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nordstrom in a report on Friday, November 10th. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Nordstrom in a report on Thursday, October 19th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $45.00 price target on shares of Nordstrom in a report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $47.43.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. equities analysts predict that Nordstrom, Inc. will post 2.98 earnings per share for the current year.
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Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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