First Republic Investment Management Inc. lifted its holdings in Nordstrom, Inc. (NYSE:JWN) by 11.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 77,010 shares of the specialty retailer’s stock after buying an additional 7,787 shares during the quarter. First Republic Investment Management Inc.’s holdings in Nordstrom were worth $3,649,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in JWN. San Francisco Sentry Investment Group CA boosted its stake in shares of Nordstrom by 1,752.0% in the third quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 2,190 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Nordstrom in the fourth quarter worth about $115,000. Cerebellum GP LLC bought a new position in Nordstrom during the fourth quarter valued at approximately $131,000. Calton & Associates Inc. bought a new position in Nordstrom during the fourth quarter valued at approximately $153,000. Finally, Tiedemann Wealth Management LLC boosted its stake in Nordstrom by 15.4% during the third quarter. Tiedemann Wealth Management LLC now owns 10,600 shares of the specialty retailer’s stock valued at $219,000 after buying an additional 1,418 shares during the last quarter. 57.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Nordstrom, Inc. (NYSE:JWN) opened at $52.40 on Tuesday. Nordstrom, Inc. has a 52-week low of $37.79 and a 52-week high of $54.00. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. The stock has a market capitalization of $8,922.15, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.85 and a beta of 0.90.
JWN has been the subject of a number of research reports. KeyCorp reissued an “outperform” rating on shares of Nordstrom in a research note on Friday, November 10th. Zacks Investment Research lowered Nordstrom from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. raised Nordstrom from an “underweight” rating to a “neutral” rating and increased their price target for the company from $33.00 to $48.00 in a research note on Tuesday, January 2nd. Piper Jaffray Companies set a $45.00 price target on Nordstrom and gave the company a “hold” rating in a research note on Wednesday, January 10th. Finally, Robert W. Baird reissued a “hold” rating and set a $50.00 price target on shares of Nordstrom in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.98.
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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