Balyasny Asset Management L.P. Decreases Stake in Nordstrom, Inc. (NYSE:JWN)

Balyasny Asset Management L.P. lowered its stake in Nordstrom, Inc. (NYSE:JWN - Free Report) by 97.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,370 shares of the specialty retailer's stock after selling 606,990 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Nordstrom were worth $371,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of Nordstrom by 29.9% during the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer's stock valued at $1,152,000 after acquiring an additional 11,583 shares during the last quarter. Wedmont Private Capital raised its stake in Nordstrom by 6.7% in the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer's stock valued at $278,000 after purchasing an additional 723 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Nordstrom in the 4th quarter valued at about $56,026,000. Crossmark Global Holdings Inc. boosted its stake in shares of Nordstrom by 171.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 100,733 shares of the specialty retailer's stock worth $2,432,000 after purchasing an additional 63,600 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer's stock worth $1,351,000 after purchasing an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

Nordstrom Trading Up 0.1%

Shares of Nordstrom stock traded up $0.03 during trading hours on Tuesday, hitting $24.67. The company's stock had a trading volume of 50,669,665 shares, compared to its average volume of 2,987,314. The business has a fifty day moving average of $24.14 and a 200 day moving average of $23.92. Nordstrom, Inc. has a 1-year low of $19.45 and a 1-year high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $4.13 billion, a PE ratio of 15.71 and a beta of 2.36.

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 (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, equities analysts forecast that Nordstrom, Inc. will post 1.97 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup reissued a "sell" rating and set a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. StockNews.com assumed coverage on Nordstrom in a report on Sunday. They set a "buy" rating on the stock. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.80.

About Nordstrom

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.