Swiss National Bank Lowers Holdings in Nordstrom, Inc. (NYSE:JWN)

Swiss National Bank reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 193,800 shares of the specialty retailer’s stock after selling 13,900 shares during the period. Swiss National Bank’s holdings in Nordstrom were worth $4,680,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management raised its stake in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 1,000 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Nordstrom during the 4th quarter worth $63,000. KBC Group NV raised its position in shares of Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after buying an additional 1,287 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Nordstrom in the 4th quarter worth $122,000. Finally, Blue Trust Inc. boosted its holdings in Nordstrom by 51.9% in the fourth quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 1,993 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JWN shares. Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Telsey Advisory Group restated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Evercore ISI upped their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $22.90.

Nordstrom Price Performance

JWN stock opened at $24.39 on Tuesday. The stock’s 50 day moving average is $24.27 and its two-hundred day moving average is $23.52. Nordstrom, Inc. has a 52-week low of $17.21 and a 52-week high of $24.99. The company has a market capitalization of $4.02 billion, a PE ratio of 15.53 and a beta of 2.60. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

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. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Analysts predict that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

About Nordstrom

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.