The Manufacturers Life Insurance Company Sells 1,994 Shares of Nordstrom, Inc. (NYSE:JWN)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,498 shares of the specialty retailer’s stock after selling 1,994 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Nordstrom were worth $2,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JWN. Madison Investment Advisors LLC bought a new position in Nordstrom during the 4th quarter worth $3,767,000. JPMorgan Chase & Co. increased its position in Nordstrom by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Nordstrom by 20.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after purchasing an additional 289,596 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Nordstrom during the fourth quarter worth $415,000. Finally, Norges Bank acquired a new stake in Nordstrom during the 4th quarter worth about $33,480,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Stock Up 0.1 %

JWN opened at $24.40 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a market capitalization of $4.08 billion, a P/E ratio of 15.54 and a beta of 2.36. Nordstrom, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $24.99. The company’s 50-day moving average is $24.11 and its 200 day moving average is $23.85.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Research analysts expect that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of recent analyst reports. Evercore ISI boosted their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Barclays boosted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. StockNews.com began coverage on shares of Nordstrom in a research report on Saturday. They set a “buy” rating on the stock. Finally, Citigroup reaffirmed a “sell” rating and issued a $22.00 target price (down from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus 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.