Cresset Asset Management LLC Takes Position in Nordstrom, Inc. (NYSE:JWN)

Cresset Asset Management LLC acquired a new stake in Nordstrom, Inc. (NYSE:JWN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,728 shares of the specialty retailer’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. The PNC Financial Services Group Inc. boosted its position in Nordstrom by 0.9% during the 1st quarter. The PNC Financial Services Group Inc. now owns 30,681 shares of the specialty retailer’s stock valued at $1,161,000 after buying an additional 283 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Nordstrom by 1.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,685 shares of the specialty retailer’s stock valued at $756,000 after buying an additional 363 shares during the period. Dynamic Advisor Solutions LLC boosted its position in Nordstrom by 2.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 18,427 shares of the specialty retailer’s stock valued at $674,000 after buying an additional 422 shares during the period. Baker Ellis Asset Management LLC raised its holdings in Nordstrom by 0.6% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 69,173 shares of the specialty retailer’s stock worth $2,530,000 after purchasing an additional 437 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Nordstrom by 4.2% in the 2nd quarter. American Century Companies Inc. now owns 10,961 shares of the specialty retailer’s stock worth $401,000 after purchasing an additional 437 shares in the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.

NYSE:JWN opened at $29.41 on Friday. The firm has a market cap of $4.67 billion, a P/E ratio of -2,941.00, a P/E/G ratio of 3.06 and a beta of 2.40. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90. Nordstrom, Inc. has a fifty-two week low of $11.72 and a fifty-two week high of $46.45. The firm has a 50-day simple moving average of $31.39 and a two-hundred day simple moving average of $34.98.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Monday, August 23rd. The specialty retailer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.33 billion. The firm’s revenue for the quarter was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.62) earnings per share. On average, equities research analysts predict that Nordstrom, Inc. will post 1.44 EPS for the current year.

Several brokerages have commented on JWN. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nordstrom from $40.00 to $37.00 and set a “hold” rating for the company in a report on Wednesday, August 25th. KeyCorp restated a “buy” rating and issued a $45.00 price objective on shares of Nordstrom in a report on Wednesday, August 25th. JPMorgan Chase & Co. lowered shares of Nordstrom from a “neutral” rating to an “underweight” rating and set a $34.00 price objective for the company. in a report on Wednesday, August 25th. Morgan Stanley lowered shares of Nordstrom from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $36.00 to $27.00 in a report on Wednesday, August 25th. Finally, Credit Suisse Group decreased their price target on shares of Nordstrom from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, August 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $35.31.

In other news, insider Geevy Sk Thomas sold 18,572 shares of the firm’s stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $35.00, for a total transaction of $650,020.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.55% of the stock is currently owned by company insiders.

Nordstrom Profile

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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