Janus Capital Management LLC lowered its stake in Nordstrom, Inc. (NYSE:JWN) by 40.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,310 shares of the specialty retailer’s stock after selling 32,787 shares during the period. Janus Capital Management LLC’s holdings in Nordstrom were worth $2,249,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in JWN. Chevy Chase Trust Holdings Inc. increased its position in shares of Nordstrom by 1.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 98,187 shares of the specialty retailer’s stock valued at $4,572,000 after buying an additional 1,139 shares during the period. Moreno Evelyn V increased its position in shares of Nordstrom by 6.9% in the first quarter. Moreno Evelyn V now owns 91,875 shares of the specialty retailer’s stock valued at $4,279,000 after buying an additional 5,970 shares during the period. Rosenbaum Jay D. increased its position in shares of Nordstrom by 20.4% in the first quarter. Rosenbaum Jay D. now owns 5,905 shares of the specialty retailer’s stock valued at $275,000 after buying an additional 1,000 shares during the period. Centre Asset Management LLC acquired a new position in shares of Nordstrom during the first quarter valued at $3,931,000. Finally, Macquarie Group Ltd. increased its position in shares of Nordstrom by 421.1% in the fourth quarter. Macquarie Group Ltd. now owns 49,000 shares of the specialty retailer’s stock valued at $2,348,000 after buying an additional 39,596 shares during the period. Institutional investors and hedge funds own 64.21% of the company’s stock.
Nordstrom, Inc. (JWN) opened at 48.56 on Friday. The firm’s 50 day moving average price is $47.33 and its 200 day moving average price is $45.35. Nordstrom, Inc. has a one year low of $39.05 and a one year high of $62.82. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 22.73 and a beta of 0.83.
A number of analysts have commented on JWN shares. Citigroup Inc. decreased their price objective on Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 12th. Vetr lowered Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.24 price target for the company. in a research note on Monday, April 3rd. Gordon Haskett restated an “accumulate” rating on shares of Nordstrom in a research note on Friday, June 9th. Maxim Group set a $61.00 price target on Nordstrom and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, J P Morgan Chase & Co reiterated an “underweight” rating and set a $48.00 price objective on shares of Nordstrom in a research note on Friday, July 14th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $47.23.
About Nordstrom
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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