Geode Capital Management LLC Sells 4,106 Shares of Nordstrom, Inc. (NYSE:JWN)

Geode Capital Management LLC trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,621,510 shares of the specialty retailer’s stock after selling 4,106 shares during the quarter. Geode Capital Management LLC owned approximately 0.98% of Nordstrom worth $39,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC bought a new stake in shares of Nordstrom during the third quarter valued at approximately $215,000. MML Investors Services LLC lifted its position in Nordstrom by 24.7% during the third quarter. MML Investors Services LLC now owns 20,097 shares of the specialty retailer’s stock valued at $452,000 after buying an additional 3,981 shares during the period. Virtu Financial LLC bought a new stake in shares of Nordstrom during the 3rd quarter valued at $451,000. Sanctuary Advisors LLC grew its position in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after buying an additional 31,498 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Nordstrom by 47.8% in the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock worth $396,000 after acquiring an additional 5,690 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.06 on Wednesday. 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 50 day moving average price of $24.19 and a 200-day moving average price of $23.68. Nordstrom, Inc. has a 52 week low of $17.21 and a 52 week high of $24.99. The firm has a market capitalization of $4.02 billion, a PE ratio of 15.32 and a beta of 2.31.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. As a group, equities research analysts expect that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented 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. Telsey Advisory Group restated 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 Nordstrom in a research report on Wednesday. They set a “buy” rating for the company. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, 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. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.