Wolfe Research cut Nordstrom from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $43.00 to $34.00 in a research report on Tuesday, May 10th. (NYSE:JWN), 7 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. 3 analysts have suggested “Sell” for the company.
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The leading market experts have placed a mean price target of $41.400 on Nordstrom, Inc. (NYSE:JWN) recently. The rating firm gave a Overweight rating to this stock in a research note on Jul 26, 2016.Miller Tabak analysts issued their verdict on Nordstrom, Inc.
Other Hedge Funds, Including, Ipswich Investment Management sold out all of its stake in JWN during the most recent quarter. Cleveland Research cut Nordstrom from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. Its Vice President – Finance Neyland Stephen J Purchased 1,200 company shares for $23000.98, in a transaction on 2015-12-17. The stock’s institutional ownership stands at 72.90%.
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Leonard Green Partners Lp holds 6.86% of its portfolio in Nordstrom, Inc. for 1.45 million shares. (NYSE:JWN). This is based on analysts one year projections on the stock. BlackRock Advisors LLC now owns 204,073 shares of the company’s stock valued at $10,164,000 after buying an additional 83,345 shares during the period. The insider owns 624,680 shares as of Mar 8, 2016, now worth $27966924. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.12. Added Greenberger, “Many of Nordstrom’s apparel and accessory vendors have called for the US wholesale environment to remain soft, potentially worsening in the back half of the year”. The company’s revenue fell just shy of expectations, coming in at $3.65 billion compared with the consensus estimate of $3.68 billion. Looking forward, analysts on average predict that earnings for the current quarter would come in between $-0.35 and $0.27. The investment management company now holds a total of 169,352 shares of Nordstrom which is valued at $7,046,737 after selling 13,446 shares in Nordstrom, the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Nordstrom makes up approximately 0.67% of Obermeyer Wood Investment Counsel Lllp’s portfolio.
