Legal & General Group Plc Sells 16,444 Shares of Nordstrom, Inc. (NYSE:JWN)

Legal & General Group Plc cut its stake in Nordstrom, Inc. (NYSE:JWN - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,617 shares of the specialty retailer's stock after selling 16,444 shares during the period. Legal & General Group Plc owned about 0.10% of Nordstrom worth $4,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JWN. Hennessy Advisors Inc. acquired a new stake in Nordstrom during the 4th quarter valued at $56,026,000. Norges Bank acquired a new stake in Nordstrom during the 4th quarter valued at $33,480,000. Great Lakes Advisors LLC acquired a new stake in Nordstrom during the 4th quarter valued at $21,736,000. American Century Companies Inc. increased its holdings in Nordstrom by 18.3% during the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer's stock valued at $70,331,000 after purchasing an additional 450,539 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Nordstrom during the 4th quarter valued at $9,409,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Trading Up 0.1 %

Shares of NYSE:JWN traded up $0.02 during mid-day trading on Monday, reaching $24.17. The stock had a trading volume of 1,865,151 shares, compared to its average volume of 2,604,544. The firm has a market cap of $4.04 billion, a PE ratio of 15.40 and a beta of 2.31. The firm has a 50 day simple moving average of $24.13 and a two-hundred day simple moving average of $23.82. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a twelve month low of $18.57 and a twelve month high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. On average, research analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JWN shares. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and raised their price target for the company from $14.50 to $24.00 in a report on Friday, January 10th. StockNews.com initiated coverage on Nordstrom in a research note on Thursday. They issued a "buy" rating for the company. Evercore ISI boosted their target price on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Barclays raised their price target on Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.80.

Nordstrom Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.