Nordstrom, Inc. (NYSE:JWN) Shares Purchased by Swiss National Bank

Swiss National Bank lifted its holdings in Nordstrom, Inc. (NYSE:JWN) by 23.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,725 shares of the specialty retailer’s stock after purchasing an additional 79,800 shares during the quarter. Swiss National Bank’s holdings in Nordstrom were worth $6,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of JWN. BlackRock Inc. lifted its position in Nordstrom by 3.7% during the 1st quarter. BlackRock Inc. now owns 8,541,895 shares of the specialty retailer’s stock worth $131,034,000 after acquiring an additional 305,125 shares during the period. SG Americas Securities LLC lifted its position in Nordstrom by 198.4% during the 4th quarter. SG Americas Securities LLC now owns 20,881 shares of the specialty retailer’s stock worth $855,000 after acquiring an additional 13,884 shares during the period. Boston Trust Walden Corp lifted its position in Nordstrom by 14.7% during the 1st quarter. Boston Trust Walden Corp now owns 1,183,061 shares of the specialty retailer’s stock worth $18,148,000 after acquiring an additional 151,995 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Nordstrom during the 4th quarter worth about $670,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Nordstrom by 1.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 457,495 shares of the specialty retailer’s stock worth $7,018,000 after acquiring an additional 5,818 shares during the period. 69.95% of the stock is owned by institutional investors.

Shares of Nordstrom stock opened at $18.12 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 4.65. Nordstrom, Inc. has a twelve month low of $12.27 and a twelve month high of $43.37. The business has a 50-day moving average price of $17.83 and a 200 day moving average price of $30.47. The firm has a market cap of $3.07 billion, a PE ratio of 5.72 and a beta of 1.45.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, May 28th. The specialty retailer reported ($2.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($1.16). Nordstrom had a net margin of 3.20% and a return on equity of 64.94%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. Nordstrom’s revenue for the quarter was down 39.5% on a year-over-year basis. On average, sell-side analysts expect that Nordstrom, Inc. will post -0.17 EPS for the current year.

JWN has been the subject of a number of research reports. Bank of America lowered their price target on Nordstrom from $29.00 to $27.00 and set an “underperform” rating for the company in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reduced their price objective on Nordstrom from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Wedbush reduced their price objective on Nordstrom from $36.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Deutsche Bank reduced their price objective on Nordstrom from $35.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Finally, UBS Group reduced their price objective on Nordstrom from $14.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, May 7th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.50.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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