Merriman Wealth Management buys $264,601 stake in Nordstrom (JWN)

Nordstrom (JWN) : Merriman Wealth Management scooped up 718 additional shares in Nordstrom during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 5,118 shares of Nordstrom which is valued at $264,601.Nordstrom makes up approximately 0.24% of Merriman Wealth Management’s portfolio.

Nordstrom opened for trading at $51.28 and hit $51.98 on the upside on Friday, eventually ending the session at $51.7, with a gain of 0.78% or 0.4 points. The heightened volatility saw the trading volume jump to 25,37,806 shares. Company has a market cap of $8,940 M.

Other Hedge Funds, Including , Oakwood Capital Managementca added JWN to its portfolio by purchasing 74,165 company shares during the most recent quarter which is valued at $3,834,331. Nordstrom makes up approx 1.00% of Oakwood Capital Managementca’s portfolio.Capstone Asset Management Co boosted its stake in JWN in the latest quarter, The investment management firm added 4,830 additional shares and now holds a total of 29,653 shares of Nordstrom which is valued at $1,533,060. Nordstrom makes up approx 0.04% of Capstone Asset Management Co’s portfolio. First United Bank Trust sold out all of its stake in JWN during the most recent quarter. The investment firm sold 10,230 shares of JWN which is valued $528,891.

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 approximately 167 off-price Nordstrom Rack stores two Canada full-line stores and HauteLook and other retail channels including five Trunk Club showrooms and 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 and HauteLook and as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.

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