Headinvest Lowers stake in Nordstrom (JWN)

Nordstrom (JWN) : Headinvest reduced its stake in Nordstrom by 4.13% during the most recent quarter end. The investment management company now holds a total of 6,970 shares of Nordstrom which is valued at $359,582 after selling 300 shares in Nordstrom , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Nordstrom makes up approximately 0.14% of Headinvest’s portfolio.

Nordstrom opened for trading at $52.61 and hit $53.55 on the upside on Wednesday, eventually ending the session at $53.47, with a gain of 1.33% or 0.7 points. The heightened volatility saw the trading volume jump to 15,88,550 shares. Company has a market cap of $9,246 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in JWN during the most recent quarter. The investment firm sold 14,346 shares of JWN which is valued $740,110.Partnerre Asset Management Corp reduced its stake in JWN by selling 44 shares or 4.71% in the most recent quarter. The Hedge Fund company now holds 890 shares of JWN which is valued at $45,248. Nordstrom makes up approx 0.02% of Partnerre Asset Management Corp’s portfolio.Catawba Capital Management Va reduced its stake in JWN by selling 550 shares or 10.88% in the most recent quarter. The Hedge Fund company now holds 4,505 shares of JWN which is valued at $229,034. Nordstrom makes up approx 0.06% of Catawba Capital Management Va’s portfolio.

On the company’s financial health, Nordstrom reported $1.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $1.24. The company had revenue of $4143.00 million for the quarter, compared to analysts expectations of $4171.52 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Many Wall Street Analysts have commented on Nordstrom. Company shares were Reiterated by Stifel on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $60 .Nordstrom was Downgraded by Piper Jaffray to ” Neutral” on Mar 21, 2016. Miller Tabak Initiated Nordstrom on Mar 8, 2016 to “Sell”, Price Target of the shares are set at $42.

Nordstrom Inc. is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com approximately 167 off-price Nordstrom Rack stores two Canada full-line stores Nordstromrack.com and HauteLook and other retail channels including five Trunk Club showrooms and TrunkClub.com its two Jeffrey boutiques and one clearance store that operates under the name Last Chance. Credit segment includes its wholly owned federal savings bank Nordstrom fsb through which it provides a private label credit card two Nordstrom VISA credit cards and a debit card. The Company operated 290 United States stores located in 38 states as well as an e-commerce business through Nordstrom.com Nordstromrack.com and HauteLook and TrunkClub.com as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.

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