Pinnacle Financial Partners Inc. cut its stake in Nordstrom, Inc. (NYSE:JWN) by 41.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,027 shares of the specialty retailer’s stock after selling 3,550 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Nordstrom were worth $238,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC raised its position in shares of Nordstrom by 41.8% in the second quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after purchasing an additional 1,018 shares during the period. Cognios Capital LLC raised its position in shares of Nordstrom by 2.7% in the fourth quarter. Cognios Capital LLC now owns 43,394 shares of the specialty retailer’s stock valued at $2,054,000 after purchasing an additional 1,149 shares during the period. Tiedemann Wealth Management LLC raised its position in shares of Nordstrom by 15.4% in the third quarter. Tiedemann Wealth Management LLC now owns 10,600 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 1,418 shares during the period. Grimes & Company Inc. raised its position in shares of Nordstrom by 1.4% in the third quarter. Grimes & Company Inc. now owns 116,147 shares of the specialty retailer’s stock valued at $5,476,000 after purchasing an additional 1,566 shares during the period. Finally, Cambridge Financial Group Inc. raised its position in shares of Nordstrom by 1.4% in the third quarter. Cambridge Financial Group Inc. now owns 113,833 shares of the specialty retailer’s stock valued at $5,367,000 after purchasing an additional 1,589 shares during the period. 57.86% of the stock is currently owned by institutional investors.
JWN has been the topic of several research reports. UBS Group decreased their price target on shares of Nordstrom from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. BMO Capital Markets set a $50.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research note on Friday, January 12th. Piper Jaffray Companies set a $45.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research note on Wednesday, January 10th. Robert W. Baird restated a “hold” rating and issued a $50.00 price target on shares of Nordstrom in a research note on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.08.
Shares of Nordstrom, Inc. (JWN) opened at $51.24 on Friday. The stock has a market cap of $8,389.09, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. Nordstrom, Inc. has a one year low of $37.79 and a one year high of $53.00.
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Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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