Monte Financial Group LLC Increases Position in Nordstrom, Inc. (NYSE:JWN)

Monte Financial Group LLC lifted its stake in Nordstrom, Inc. (NYSE:JWN) by 28.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,111 shares of the specialty retailer’s stock after buying an additional 20,131 shares during the period. Nordstrom makes up 2.5% of Monte Financial Group LLC’s investment portfolio, making the stock its 21st largest holding. Monte Financial Group LLC owned about 0.06% of Nordstrom worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Knuff & Co LLC purchased a new position in shares of Nordstrom in the 3rd quarter valued at $27,000. Edge Wealth Management LLC grew its position in Nordstrom by 100.0% during the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in Nordstrom during the 2nd quarter worth $29,000. Resources Investment Advisors LLC. purchased a new position in Nordstrom during the 2nd quarter worth $35,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Nordstrom during the 2nd quarter worth $47,000. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of JWN stock traded down $0.53 during mid-day trading on Tuesday, hitting $36.90. The stock had a trading volume of 4,270,419 shares, compared to its average volume of 3,839,197. Nordstrom, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $65.24. The firm has a market cap of $5.68 billion, a PE ratio of 10.39, a PEG ratio of 1.83 and a beta of 0.73. The company has a debt-to-equity ratio of 5.39, a current ratio of 0.79 and a quick ratio of 0.35. The company’s 50-day simple moving average is $34.81 and its 200-day simple moving average is $33.14.

Nordstrom (NYSE:JWN) last released its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned $0.95 EPS. The business’s revenue was down 4.8% on a year-over-year basis. On average, analysts expect that Nordstrom, Inc. will post 3.34 EPS for the current year.

In related news, insider Christine Deputy sold 1,906 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $28.53, for a total value of $54,378.18. Following the completion of the sale, the insider now owns 56,913 shares in the company, valued at $1,623,727.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.21% of the stock is owned by company insiders.

Several brokerages have issued reports on JWN. Guggenheim reissued a “hold” rating on shares of Nordstrom in a research report on Tuesday, October 22nd. Bank of America reissued an “underperform” rating and set a $29.00 price objective (down from $32.00) on shares of Nordstrom in a research report on Thursday, August 22nd. KeyCorp lowered their price objective on shares of Nordstrom from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley lowered their price objective on shares of Nordstrom from $40.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Finally, Telsey Advisory Group lowered their price objective on shares of Nordstrom from $35.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $38.64.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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