Amundi Pioneer Asset Management Inc. Sells 4,592 Shares of Nordstrom, Inc. (NYSE:JWN)

Amundi Pioneer Asset Management Inc. decreased its position in Nordstrom, Inc. (NYSE:JWN) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,042,587 shares of the specialty retailer’s stock after selling 4,592 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.67% of Nordstrom worth $46,271,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Nordstrom by 23.0% during the first quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock worth $325,721,000 after purchasing an additional 1,374,779 shares during the last quarter. Norges Bank bought a new stake in Nordstrom in the fourth quarter valued at $55,352,000. BlackRock Inc. lifted its stake in Nordstrom by 6.4% in the fourth quarter. BlackRock Inc. now owns 10,496,455 shares of the specialty retailer’s stock valued at $489,241,000 after buying an additional 630,899 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Nordstrom by 99.9% in the fourth quarter. Principal Financial Group Inc. now owns 666,534 shares of the specialty retailer’s stock valued at $31,068,000 after buying an additional 333,101 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Nordstrom by 23.1% in the fourth quarter. Bank of America Corp DE now owns 1,512,299 shares of the specialty retailer’s stock valued at $70,488,000 after buying an additional 283,365 shares during the last quarter. 62.39% of the stock is owned by institutional investors and hedge funds.

JWN has been the topic of a number of recent analyst reports. Cowen cut their price objective on shares of Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. UBS Group set a $54.00 price objective on shares of Westlake Chemical and gave the company a “sell” rating in a research note on Tuesday, July 2nd. Wedbush set a $190.00 target price on Home Depot and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 target price (down from $33.00) on shares of Urban Outfitters in a report on Wednesday, May 22nd. Finally, Bank of America lowered their target price on Nordstrom from $40.00 to $32.00 and set an “underperform” rating on the stock in a report on Wednesday, May 22nd. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $40.11.

NYSE JWN traded up $0.35 during trading on Friday, reaching $29.72. 2,775,100 shares of the company’s stock were exchanged, compared to its average volume of 3,486,770. Nordstrom, Inc. has a fifty-two week low of $29.26 and a fifty-two week high of $67.75. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 1.47 and a beta of 0.65. The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34. The stock has a fifty day moving average price of $31.83.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, sell-side analysts expect that Nordstrom, Inc. will post 3.32 earnings per share for the current fiscal year.

In related news, insider Christine Deputy sold 4,812 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the completion of the sale, the insider now directly owns 60,056 shares in the company, valued at approximately $1,957,225.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Peter E. Nordstrom sold 3,380 shares of Nordstrom stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $109,714.80. Following the completion of the transaction, the insider now directly owns 2,530,989 shares in the company, valued at $82,155,902.94. The disclosure for this sale can be found here. 5.21% of the stock is owned by insiders.

Nordstrom Company Profile

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.

Further Reading: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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