Nordstrom, Inc. (JWN) Position Increased by Capstone Investment Advisors LLC
Capstone Investment Advisors LLC raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 144.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 68,988 shares of the company’s stock after buying an additional 40,763 shares during the period. Capstone Investment Advisors LLC’s holdings in Nordstrom were worth $3,306,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Evercore Wealth Management LLC increased its stake in shares of Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock valued at $106,000 after buying an additional 231 shares in the last quarter. Blue Chip Partners Inc. acquired a new stake in shares of Nordstrom during the second quarter valued at $114,000. Gemmer Asset Management LLC increased its stake in shares of Nordstrom by 1.2% in the third quarter. Gemmer Asset Management LLC now owns 2,219 shares of the company’s stock valued at $115,000 after buying an additional 26 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Nordstrom by 18.4% in the third quarter. Advisory Services Network LLC now owns 2,250 shares of the company’s stock valued at $117,000 after buying an additional 349 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its stake in shares of Nordstrom by 7.9% in the fourth quarter. Johnson Financial Group Inc. now owns 2,600 shares of the company’s stock valued at $125,000 after buying an additional 190 shares in the last quarter. Institutional investors own 66.03% of the company’s stock.
Shares of Nordstrom, Inc. (NYSE:JWN) traded down 4.21% during midday trading on Thursday, hitting $44.18. 3,284,530 shares of the company’s stock traded hands. Nordstrom, Inc. has a 1-year low of $35.01 and a 1-year high of $62.82. The company has a 50 day moving average price of $44.90 and a 200 day moving average price of $50.65. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 23.51 and a beta of 1.01.
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Several brokerages have recently weighed in on JWN. Cowen and Company lowered their target price on Nordstrom from $64.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday. Credit Suisse Group reaffirmed a “neutral” rating and set a $48.00 price target on shares of Nordstrom in a research report on Tuesday, December 6th. Stifel Nicolaus set a $62.00 price target on shares of Nordstrom and gave the stock a “buy” rating in a research report on Friday, November 11th. Goldman Sachs Group, Inc. (The) cut shares of Nordstrom from a “neutral” rating to a “sell” rating and set a $35.00 price target on the stock. in a research report on Thursday, February 2nd. Finally, Vetr cut shares of Nordstrom from a “strong-buy” rating to a “buy” rating and set a $50.90 price target on the stock. in a research report on Thursday, January 5th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.89.
In other news, insider Scott A. Meden sold 5,000 shares of Nordstrom stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel F. Little sold 19,704 shares of Nordstrom stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $59.62, for a total transaction of $1,174,752.48. Following the sale, the insider now owns 74,050 shares in the company, valued at $4,414,861. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,495 shares of company stock worth $7,997,621. Insiders own 7.03% of the company’s stock.
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.
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