Wells Fargo & Company MN Lowers Position in Nordstrom, Inc. (NYSE:JWN)

Wells Fargo & Company MN reduced its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 28.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,951 shares of the specialty retailer’s stock after selling 111,195 shares during the period. Wells Fargo & Company MN’s holdings in Nordstrom were worth $6,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in JWN. Landscape Capital Management L.L.C. grew its holdings in shares of Nordstrom by 36.7% during the fourth quarter. Landscape Capital Management L.L.C. now owns 12,904 shares of the specialty retailer’s stock valued at $312,000 after buying an additional 3,465 shares during the last quarter. Atlas Capital Advisors Inc. grew its stake in shares of Nordstrom by 45.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock worth $107,000 after acquiring an additional 1,391 shares during the period. Franklin Resources Inc. raised its holdings in shares of Nordstrom by 22.8% during the fourth quarter. Franklin Resources Inc. now owns 61,777 shares of the specialty retailer’s stock valued at $1,492,000 after purchasing an additional 11,483 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in Nordstrom by 8.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 505,060 shares of the specialty retailer’s stock valued at $12,197,000 after purchasing an additional 40,697 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in Nordstrom in the fourth quarter worth approximately $1,793,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $23.86 on Friday. The stock has a market cap of $3.99 billion, a PE ratio of 15.20 and a beta of 2.31. Nordstrom, Inc. has a 1 year low of $18.48 and a 1 year high of $24.99. The firm has a fifty day moving average price of $24.16 and a 200-day moving average price of $23.70. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Equities analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

JWN has been the topic of several research analyst reports. Barclays increased their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. StockNews.com began coverage on shares of Nordstrom in a research note on Wednesday. They issued a “buy” rating on the stock. Finally, UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.80.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.