Nordstrom, Inc. (JWN) Position Trimmed by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its stake in Nordstrom, Inc. (NYSE:JWN) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 811,878 shares of the specialty retailer’s stock after selling 89,238 shares during the quarter. Lord Abbett & CO. LLC owned about 0.49% of Nordstrom worth $38,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Gemmer Asset Management LLC raised its stake in Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 18 shares in the last quarter. Global X Management Co. LLC grew its position in Nordstrom by 0.9% during the second quarter. Global X Management Co. LLC now owns 6,587 shares of the specialty retailer’s stock valued at $315,000 after acquiring an additional 59 shares during the last quarter. FineMark National Bank & Trust grew its position in Nordstrom by 2.1% during the second quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock valued at $294,000 after acquiring an additional 128 shares during the last quarter. State of Alaska Department of Revenue grew its position in Nordstrom by 1.5% during the second quarter. State of Alaska Department of Revenue now owns 9,520 shares of the specialty retailer’s stock valued at $455,000 after acquiring an additional 140 shares during the last quarter. Finally, Synovus Financial Corp grew its position in Nordstrom by 1.7% during the second quarter. Synovus Financial Corp now owns 8,760 shares of the specialty retailer’s stock valued at $423,000 after acquiring an additional 143 shares during the last quarter. 63.00% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on JWN. Vetr cut shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price target on the stock. in a research report on Wednesday, July 5th. Robert W. Baird set a $50.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, August 10th. Wolfe Research increased their price target on shares of Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $47.77.

Shares of Nordstrom, Inc. (JWN) opened at 42.15 on Friday. The company has a market cap of $7.01 billion, a PE ratio of 19.97 and a beta of 0.85. Nordstrom, Inc. has a 12-month low of $39.53 and a 12-month high of $62.82. The company has a 50-day moving average of $45.04 and a 200 day moving average of $45.64.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. Nordstrom’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. On average, equities research analysts expect that Nordstrom, Inc. will post $2.98 EPS for the current year.

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Nordstrom Profile

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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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