Pillar Pacific Capital Management LLC lessened its position in shares of Nordstrom, Inc. (NYSE:JWN) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,450 shares of the specialty retailer’s stock after selling 1,600 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Nordstrom were worth $210,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Gemmer Asset Management LLC increased its position in Nordstrom by 0.8% during the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 18 shares during the last quarter. NEXT Financial Group Inc increased its position in Nordstrom by 55.4% during the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after acquiring an additional 942 shares during the last quarter. Sei Investments Co. increased its position in Nordstrom by 32.0% during the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after acquiring an additional 771 shares during the last quarter. Mosaic Family Wealth LLC increased its position in Nordstrom by 8.2% during the second quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock valued at $153,000 after acquiring an additional 242 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in Nordstrom during the second quarter valued at $156,000. Institutional investors own 63.06% of the company’s stock.
A number of analysts recently commented on JWN shares. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and set a $53.00 price target (up previously from $49.00) on shares of Nordstrom in a report on Wednesday, September 13th. KeyCorp set a $55.00 price target on Nordstrom and gave the company a “buy” rating in a report on Wednesday, October 11th. BidaskClub lowered Nordstrom from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $45.00 price target on shares of Nordstrom in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.41.
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Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the firm posted $0.67 EPS. Nordstrom’s revenue was up 3.5% compared to the same quarter last year.
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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