First Mercantile Trust Co adds Nordstrom (JWN) to its portfolio

Nordstrom (JWN) : First Mercantile Trust Co added new position in Nordstrom during the most recent quarter end. The investment management firm now holds 16,100 shares of Nordstrom which is valued at $882,763 , the company said in a statement filed on Oct 7, 2016 with the SEC.Nordstrom makes up approximately 0.12% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in JWN by selling 3,550 shares or 10.69% in the most recent quarter. The Hedge Fund company now holds 29,671 shares of JWN which is valued at $1,626,861. Nordstrom makes up approx 0.03% of Exxonmobil Investment Management Inc Tx’s portfolio. Independent Portfolio Consultants added JWN to its portfolio by purchasing 255 company shares during the most recent quarter which is valued at $13,515.Bnp Paribas Arbitrage Sa reduced its stake in JWN by selling 20,560 shares or 25.23% in the most recent quarter. The Hedge Fund company now holds 60,931 shares of JWN which is valued at $3,229,343. Nordstrom makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.Boltwood Capital Management boosted its stake in JWN in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 16,855 shares of Nordstrom which is valued at $893,315. Nordstrom makes up approx 0.72% of Boltwood Capital Management’s portfolio.Washington Trust Bank reduced its stake in JWN by selling 1,395 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 27,504 shares of JWN which is valued at $1,457,712. Nordstrom makes up approx 0.35% of Washington Trust Bank’s portfolio.

Nordstrom opened for trading at $54.3 and hit $55.23 on the upside on Friday, eventually ending the session at $54.83, with a gain of 1.65% or 0.89 points. The heightened volatility saw the trading volume jump to 36,13,632 shares. Company has a market cap of $9,510 M.

On the company’s financial health, Nordstrom reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.56. The company had revenue of $3592.00 million for the quarter, compared to analysts expectations of $3617.50 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Nordstrom. Nordstrom was Resumed by Guggenheim to “Buy” on Sep 30, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $38 .Company shares were Reiterated by Stifel on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $44 .

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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