Janus Capital Management LLC Reduces Stake in Nordstrom, Inc. (JWN)

Janus Capital Management LLC lowered its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 40.4% during the first quarter, according to its most recent filing with the SEC. The firm 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.

A number of other hedge funds have also recently bought and sold shares of the stock. Baker Avenue Asset Management LP purchased a new stake in Nordstrom during the first quarter valued at $499,000. Shelton Capital Management boosted its stake in Nordstrom by 20.0% in the first quarter. Shelton Capital Management now owns 25,805 shares of the specialty retailer’s stock valued at $1,202,000 after buying an additional 4,300 shares during the last quarter. 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 valued at $27,942,000 after buying an additional 200,000 shares during the last quarter. Soros Fund Management LLC purchased a new stake in Nordstrom during the first quarter valued at $233,000. Finally, State Street Corp boosted its stake in Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after buying an additional 160,947 shares during the last quarter. 64.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nordstrom, Inc. (NYSE JWN) traded down 0.09% during midday trading on Friday, reaching $46.81. 2,088,844 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $47.44 and its 200 day moving average is $45.41. Nordstrom, Inc. has a one year low of $39.05 and a one year high of $62.82. The firm has a market cap of $7.77 billion, a PE ratio of 21.91 and a beta of 0.83.

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Several research firms have weighed in on JWN. Piper Jaffray Companies set a $42.00 price objective on Nordstrom and gave the company a “hold” rating in a research report on Tuesday, July 25th. Vetr cut Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective on the stock. in a research report on Monday, July 17th. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $48.00 price objective on shares of Nordstrom in a research report on Friday, July 14th. Royal Bank Of Canada set a $45.00 price objective on Nordstrom and gave the company a “hold” rating in a research report on Monday, June 19th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Nordstrom in a research report on Monday, June 12th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. Nordstrom has an average rating of “Hold” and an average target price 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.