Meag Munich Ergo Kapitalanlagegesellschaft MBH Acquires Shares of 5,573 Nordstrom, Inc. (JWN)

Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,573 shares of the specialty retailer’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial For Lutherans bought a new stake in Nordstrom during the second quarter worth approximately $202,000. Stonebridge Capital Advisors LLC increased its stake in Nordstrom by 5.0% during the second quarter. Stonebridge Capital Advisors LLC now owns 71,988 shares of the specialty retailer’s stock worth $3,443,000 after acquiring an additional 3,428 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Nordstrom by 233.6% during the third quarter. Evergreen Capital Management LLC now owns 284,681 shares of the specialty retailer’s stock worth $13,423,000 after acquiring an additional 199,339 shares during the last quarter. APG Asset Management N.V. increased its stake in Nordstrom by 6.8% during the third quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after acquiring an additional 97,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Nordstrom by 26.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 797,763 shares of the specialty retailer’s stock worth $37,615,000 after acquiring an additional 168,724 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

Nordstrom, Inc. (JWN) opened at $47.85 on Monday. Nordstrom, Inc. has a 12-month low of $37.79 and a 12-month high of $53.00. The stock has a market capitalization of $7,970.97, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. equities research analysts forecast that Nordstrom, Inc. will post 2.99 EPS for the current fiscal year.

Several equities research analysts have weighed in on the company. William Blair cut Nordstrom from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, January 15th. BMO Capital Markets set a $50.00 price objective on Nordstrom and gave the stock a “hold” rating in a research note on Friday, January 12th. Piper Jaffray Companies set a $45.00 price objective on Nordstrom and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. raised Nordstrom from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $33.00 to $48.00 in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $48.03.

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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.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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