Nordstrom, Inc. (NYSE:JWN) Slips -0.81% Pre-Market

Andrew Cummings
August 11, 2017

First Trust Advisors LP now owns 264,500 shares of the specialty retailer's stock valued at $12,318,000 after buying an additional 111,458 shares during the last quarter. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. NORDSTROM PETER E sold $69,319 worth of Nordstrom, Inc.

The company's discount Nordstrom Rack unit reported a 3.1 percent improvement in established-store sales.

In the Nordstrom brand, including US and Canada full-line stores and, net sales when combined with Trunk Club, increased 2.4% and comparable sales increased 1.4%. (JWN) traded down 4.29% during midday trading on Thursday, reaching $44.87. Nordstrom has a 1-year low of $39.53 and a 1-year high of $62.82. Davidson D A & Company who had been investing in Nordstrom Inc for a number of months, seems to be less bullish one the $7.78B market cap company. The company's 50-day moving average price is $47.43 and its 200-day moving average price is $45.51.

Several brokerages recently commented on JWN. (NYSE:JWN), 9 have Buy rating, 6 Sell and 12 Hold. Zacks Investment Research lowered shares of Nordstrom from a hold rating to a sell rating in a research report on Wednesday, April 26th. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the company a "hold" rating in a report on Saturday, May 13th. Vetr downgraded shares of Nordstrom from a "buy" rating to a "hold" rating and set a $43.99 price target on the a research report on Monday, May 29th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company's stock. The stock now has a consensus rating of "Hold" and an average target price of $47.36.

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Net income fell to $110 million, or 65 cents per share, in the quarter, from $117 million, or 67 cents per share, in the year-ago period. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of USA & worldwide copyright legislation. The legal version of this piece of content can be accessed at Hedge funds and other institutional investors own 64.36% of the company's stock.

Trading volume for Nordstrom, Inc. was 5,374K by the end of trading on Friday. Global X Management Co. LSV Asset Management acquired a new stake in shares of Nordstrom during the second quarter worth about $559,000. Advisory Services Network LLC bought a new position in shares of Nordstrom during the first quarter valued at $113,000. State of Tennessee Treasury Department now owns 276,712 shares of the specialty retailer's stock worth $13,235,000 after buying an additional 175,590 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Nordstrom by 1.5% in the second quarter. Nexus Invest Inc, Ontario - Canada-based fund reported 7,000 shares. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer's stock worth $87,584,000 after buying an additional 1,149,685 shares during the period. The Company's divisions include Retail and Credit.

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