Nordstrom, Inc. (JWN) Stake Lessened by PGGM Investments

Nordstrom, Inc. (JWN) Stake Lessened by PGGM Investments

Nordstrom, Inc. (JWN) Stake Lessened by PGGM Investments

Total company net sales increased 2.0 percent and comparable sales decreased 0.9 percent, compared with the same quarter a year ago. Gemmer Asset Management LLC boosted its stake in shares of Nordstrom by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC boosted its stake in shares of Nordstrom by 58.6% in the second quarter. Legal & General Group Plc boosted its position in Nordstrom by 0.8% in the 3rd quarter. Nordstrom kept its call for flat comparable sales for fiscal 2017 and tweaked lower the upper limit of its forecast for 2017 per-share earnings to between $2.85 a share and $2.95 share, from a previous guidance of between $2.85 a share and $3.00 a share. Analysts polled by FactSet had expected earnings of 64 cents a share on sales of $3.57 billion. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer's stock worth $109,000 after purchasing an additional 18 shares during the period.

CORRECTION: Nordstrom reported $3.63 billion in revenue for the quarter.

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Several brokerages have recently issued reports on JWN. Vetr raised Nordstrom from a "strong sell" rating to a "sell" rating and set a $46.00 price objective for the company in a report on Wednesday, August 31st. Diluted EPS are now expected in the range of $2.85 to $2.95, compared with the prior range of $2.85 and $3.00. First Trust Advisors LP now owns 91,164 shares of the specialty retailer's stock valued at $4,298,000 after acquiring an additional 6,321 shares in the last quarter. KeyCorp set a $55.00 price objective on shares of Nordstrom and gave the stock a "buy" rating in a research report on Wednesday, October 11th. Sei Investments Co. now owns 3,177 shares of the specialty retailer's stock worth $152,000 after buying an additional 771 shares during the last quarter. If you are viewing this report on another publication, it was copied illegally and reposted in violation of worldwide copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/11/10/nordstrom-inc-jwn-shares-sold-by-aperio-group-llc.html. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of "Hold" and a consensus target price of $45.63. Citigroup Inc. reiterated a "hold" rating and set a $43.00 target price on shares of Nordstrom in a research report on Friday.

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Department stores sales have been under financial pressure as more people shop online, at off-price retailers, or spend less money overall on clothing, which makes up a big part of Nordstrom's business. The company operates through two segments: Retail and Credit. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

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