McIlrath & Eck LLC reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 19.5% in the third quarter, Holdings Channel reports. The fund owned 1,448 shares of the specialty retailer’s stock after selling 350 shares during the quarter. McIlrath & Eck LLC’s holdings in Nordstrom were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in shares of Nordstrom during the 2nd quarter valued at approximately $29,000. Edge Wealth Management LLC lifted its stake in shares of Nordstrom by 100.0% during the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Resources Investment Advisors LLC. purchased a new stake in shares of Nordstrom during the 2nd quarter valued at approximately $35,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Nordstrom during the 2nd quarter valued at approximately $47,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Nordstrom by 60.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,540 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 579 shares in the last quarter. 65.19% of the stock is owned by hedge funds and other institutional investors.
In other Nordstrom news, insider Christine Deputy sold 1,906 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $28.53, for a total value of $54,378.18. Following the sale, the insider now directly owns 56,913 shares in the company, valued at approximately $1,623,727.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.21% of the company’s stock.
Nordstrom (NYSE:JWN) last posted its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Nordstrom, Inc. will post 3.34 earnings per share for the current fiscal year.
A number of analysts recently commented on the stock. Telsey Advisory Group dropped their price target on shares of Nordstrom from $35.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, August 22nd. KeyCorp dropped their price target on shares of Nordstrom from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Guggenheim restated a “hold” rating on shares of Nordstrom in a research note on Tuesday, October 22nd. Bank of America restated an “underperform” rating and set a $29.00 price target (down from $32.00) on shares of Nordstrom in a research note on Thursday, August 22nd. Finally, UBS Group cut shares of Nordstrom from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.64.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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