First Mercantile Trust Co. Holds Stake in Nordstrom, Inc. (NYSE:JWN)
First Mercantile Trust Co. continued to hold its position in shares of Nordstrom, Inc. (NYSE:JWN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,300 shares of the specialty retailer’s stock at the end of the second quarter. First Mercantile Trust Co.’s holdings in Nordstrom were worth $588,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its stake in Nordstrom by 72.8% in the first quarter. First Trust Advisors LP now owns 264,500 shares of the specialty retailer’s stock worth $12,318,000 after buying an additional 111,458 shares in the last quarter. Boston Private Wealth LLC acquired a new stake in Nordstrom during the first quarter worth $492,000. Scopus Asset Management L.P. boosted its stake in Nordstrom by 50.0% in the first quarter. Scopus Asset Management L.P. now owns 600,000 shares of the specialty retailer’s stock worth $27,942,000 after buying an additional 200,000 shares in the last quarter. Bank of America Corp DE boosted its stake in Nordstrom by 20.7% in the first quarter. Bank of America Corp DE now owns 1,031,859 shares of the specialty retailer’s stock worth $48,054,000 after buying an additional 176,908 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Nordstrom by 53.4% in the first quarter. Toronto Dominion Bank now owns 30,914 shares of the specialty retailer’s stock worth $1,440,000 after buying an additional 10,764 shares in the last quarter. 66.53% of the stock is owned by institutional investors and hedge funds.
Shares of Nordstrom, Inc. (NYSE JWN) opened at 45.36 on Tuesday. The firm has a market cap of $7.54 billion, a P/E ratio of 21.49 and a beta of 0.83. The company’s 50-day moving average price is $47.24 and its 200 day moving average price is $45.53. Nordstrom, Inc. has a 52 week low of $39.53 and a 52 week high of $62.82.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.19%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Nordstrom’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Nordstrom, Inc. will post $2.97 earnings per share for the current year.
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A number of research firms recently weighed in on JWN. KeyCorp reaffirmed an “overweight” rating and set a $55.00 price target on shares of Nordstrom in a report on Monday. Robert W. Baird set a $50.00 price target on Nordstrom and gave the company a “hold” rating in a report on Saturday. Cowen and Company reaffirmed a “buy” rating and set a $49.00 price target on shares of Nordstrom in a report on Friday. BidaskClub cut Nordstrom from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wolfe Research raised their price target on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.64.
Nordstrom Company Profile
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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