Envestnet Asset Management Inc. Sells 220,704 Shares of Nordstrom, Inc. (NYSE:JWN)

Envestnet Asset Management Inc. lowered its position in shares of Nordstrom, Inc. (NYSE:JWN) by 84.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,176 shares of the specialty retailer’s stock after selling 220,704 shares during the period. Envestnet Asset Management Inc.’s holdings in Nordstrom were worth $1,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Madison Investment Advisors LLC bought a new stake in shares of Nordstrom during the 4th quarter valued at about $3,767,000. JPMorgan Chase & Co. lifted its position in Nordstrom by 29.7% during the third 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 last quarter. Charles Schwab Investment Management Inc. grew its stake in Nordstrom by 20.4% in 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 buying an additional 289,596 shares in the last quarter. Avior Wealth Management LLC bought a new position in shares of Nordstrom in the 4th quarter worth $415,000. Finally, Norges Bank purchased a new stake in shares of Nordstrom during the 4th quarter valued at $33,480,000. Institutional investors own 88.73% of the company’s stock.

Nordstrom Trading Down 0.4 %

NYSE:JWN opened at $24.06 on Friday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 15.32 and a beta of 2.31. 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 fifty day moving average of $24.12 and a 200 day moving average of $23.83. Nordstrom, Inc. has a 52 week low of $19.07 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 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 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JWN. Barclays increased their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. StockNews.com began coverage on Nordstrom in a research report on Friday. They set a “buy” rating on the stock. Citigroup restated a “sell” rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Evercore ISI increased their price target on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Finally, UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.