Jensen Investment Management Inc. Sells 1,910 Shares of Nordstrom, Inc. (JWN)
Jensen Investment Management Inc. lowered its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 17.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,830 shares of the company’s stock after selling 1,910 shares during the period. Jensen Investment Management Inc.’s holdings in Nordstrom were worth $458,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in shares of Nordstrom during the second quarter worth $111,916,000. Vanguard Group Inc. raised its position in shares of Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock worth $526,621,000 after buying an additional 1,945,151 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock worth $136,755,000 after buying an additional 929,597 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Nordstrom by 113.4% in the second quarter. TIAA CREF Investment Management LLC now owns 1,485,948 shares of the company’s stock worth $56,540,000 after buying an additional 789,558 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Nordstrom by 270.2% in the second quarter. APG Asset Management N.V. now owns 810,797 shares of the company’s stock worth $30,851,000 after buying an additional 591,800 shares during the last quarter. Hedge funds and other institutional investors own 66.00% of the company’s stock.
Shares of Nordstrom, Inc. (NYSE:JWN) traded down 1.84% during trading on Friday, reaching $44.20. 2,338,751 shares of the company’s stock were exchanged. The stock has a market cap of $7.66 billion, a P/E ratio of 23.52 and a beta of 1.00. Nordstrom, Inc. has a 12-month low of $35.01 and a 12-month high of $62.82. The company has a 50 day moving average of $52.12 and a 200 day moving average of $50.04.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 10th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.32. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Nordstrom, Inc. will post $2.95 EPS for the current year.
A number of equities analysts recently weighed in on JWN shares. KeyCorp restated a “buy” rating on shares of Nordstrom in a report on Friday, November 11th. Maxim Group boosted their price objective on shares of Nordstrom from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, November 11th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Monday, November 14th. Stifel Nicolaus set a $62.00 price objective on shares of Nordstrom and gave the stock a “buy” rating in a report on Friday, November 11th. Finally, Cowen and Company set a $64.00 price objective on shares of Nordstrom and gave the stock a “buy” rating in a report on Friday, November 11th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $49.19.
In related news, President Blake W. Nordstrom sold 42,847 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $60.00, for a total transaction of $2,570,820.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel F. Little sold 19,704 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $59.62, for a total transaction of $1,174,752.48. Following the transaction, the insider now owns 74,050 shares in the company, valued at $4,414,861. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by insiders.
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 123 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 215 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.
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