Nordstrom, Inc. (NYSE:JWN) Position Reduced by Meag Munich Ergo Kapitalanlagegesellschaft MBH
Meag Munich Ergo Kapitalanlagegesellschaft MBH cut its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 60.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,478 shares of the specialty retailer’s stock after selling 65,735 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Nordstrom were worth $5,934,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 236 shares during the period. Gemmer Asset Management LLC raised its position in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the last quarter. Ledyard National Bank raised its position in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Nordstrom during the first quarter worth $113,000. Finally, NEXT Financial Group Inc raised its position in shares of Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the last quarter. 64.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nordstrom, Inc. (JWN) traded down 1.23% during trading on Wednesday, hitting $47.50. The stock had a trading volume of 159,917 shares. Nordstrom, Inc. has a 12 month low of $39.05 and a 12 month high of $62.82. The company has a market cap of $7.89 billion, a PE ratio of 22.24 and a beta of 0.83. The stock has a 50 day moving average of $46.57 and a 200 day moving average of $45.26.
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A number of equities analysts have recently weighed in on JWN shares. Vetr lowered Nordstrom from a “strong-buy” rating to a “buy” rating and set a $48.92 target price on the stock. in a research report on Monday, April 10th. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. Robert W. Baird set a $50.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. ValuEngine lowered Nordstrom from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. Finally, Atlantic Securities raised Nordstrom from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $58.00 in a research report on Thursday, May 4th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.23.
Nordstrom Company Profile
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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