Smith Asset Management Group LP Has Cut Its Nordstrom INC (JWN) Position as Market Valuation Declined

Nordstrom, Inc. (NYSE:JWN) LogoInvestors sentiment decreased to 0.87 in 2019 Q1. Its down 0.02, from 0.89 in 2018Q4. It turned negative, as 54 investors sold JWN shares while 150 reduced holdings. 50 funds opened positions while 128 raised stakes. 91.49 million shares or 7.62% less from 99.03 million shares in 2018Q4 were reported. Institute For Wealth Limited Liability Co reported 0.09% in Nordstrom, Inc. (NYSE:JWN). Altrinsic Glob Advsr Lc accumulated 521,844 shares or 1.07% of the stock. Jpmorgan Chase And, a New York-based fund reported 7.34M shares. Pathstone Family Office Ltd Llc has invested 0.01% in Nordstrom, Inc. (NYSE:JWN). Great West Life Assurance Can has 0.02% invested in Nordstrom, Inc. (NYSE:JWN). Meeder Asset Management Inc has 14,308 shares. Trustmark National Bank & Trust Department has 13 shares. Windward Mngmt Ca reported 45,913 shares. Baker Ellis Asset Mgmt Limited Co invested in 45,880 shares. Atria Investments Ltd Liability Corp invested in 11,469 shares or 0.02% of the stock. Willingdon Wealth Management has invested 0% in Nordstrom, Inc. (NYSE:JWN). Lombard Odier Asset Management (Switzerland) owns 48,564 shares. Arrowstreet Capital Partnership reported 0% stake. Lourd Limited Liability Company holds 0.17% or 39,512 shares in its portfolio. Mackay Shields Ltd Liability Com holds 15,789 shares.

Smith Asset Management Group Lp decreased its stake in Nordstrom Inc (JWN) by 97.12% based on its latest 2019Q1 regulatory filing with the SEC. Smith Asset Management Group Lp sold 502,350 shares as the company’s stock declined 17.94% . The hedge fund held 14,900 shares of the consumer services company at the end of 2019Q1, valued at $669,000, down from 517,250 at the end of the previous reported quarter. Smith Asset Management Group Lp who had been investing in Nordstrom Inc for a number of months, seems to be less bullish one the $3.92 billion market cap company. The stock decreased 2.57% or $0.67 during the last trading session, reaching $25.35. About 6.26M shares traded or 41.08% up from the average. Nordstrom, Inc. (NYSE:JWN) has declined 36.92% since August 15, 2018 and is downtrending. It has underperformed by 36.92% the S&P500.

Smith Asset Management Group Lp, which manages about $2.91B and $3.09 billion US Long portfolio, upped its stake in Arista Networks Inc (NYSE:ANET) by 21,522 shares to 219,561 shares, valued at $69.08 million in 2019Q1, according to the filing. It also increased its holding in Biogen Inc (NASDAQ:BIIB) by 94,314 shares in the quarter, for a total of 209,805 shares, and has risen its stake in Deckers Outdoor Corp (NYSE:DECK).

Analysts await Nordstrom, Inc. (NYSE:JWN) to report earnings on August, 21 after the close. They expect $0.80 EPS, down 15.79 % or $0.15 from last year’s $0.95 per share. JWN’s profit will be $123.71 million for 7.92 P/E if the $0.80 EPS becomes a reality. After $0.23 actual EPS reported by Nordstrom, Inc. for the previous quarter, Wall Street now forecasts 247.83 % EPS growth.

More notable recent Nordstrom, Inc. (NYSE:JWN) news were published by: Streetinsider.com which released: “Macy’s shares sink as discounts to clear inventory hurt, tourism drops – StreetInsider.com” on August 14, 2019, also Finance.Yahoo.com with their article: “Why Myriad Genetics, Nordstrom, and Luckin Coffee Slumped Today – Yahoo Finance” published on August 14, 2019, Nasdaq.com published: “Stock Market Today: Fed Cuts Rates, But Stocks Sell Off – Nasdaq” on July 31, 2019. More interesting news about Nordstrom, Inc. (NYSE:JWN) were released by: Investorplace.com and their article: “Stock Market Today: Are We About to Enter a Recession? – Investorplace.com” published on August 14, 2019 as well as Fool.com‘s news article titled: “3 Stocks That Are Absurdly Cheap Right Now – Motley Fool” with publication date: August 09, 2019.

Nordstrom, Inc. (NYSE:JWN) Ratings Coverage

Among 6 analysts covering Nordstrom (NYSE:JWN), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Nordstrom has $65 highest and $3700 lowest target. $49.14’s average target is 93.85% above currents $25.35 stock price. Nordstrom had 17 analyst reports since February 22, 2019 according to SRatingsIntel. Credit Suisse maintained Nordstrom, Inc. (NYSE:JWN) rating on Friday, March 1. Credit Suisse has “Hold” rating and $46 target. Deutsche Bank maintained it with “Hold” rating and $49 target in Friday, March 1 report. As per Wednesday, April 10, the company rating was upgraded by KeyBanc Capital Markets. The firm earned “Hold” rating on Friday, March 1 by Piper Jaffray. On Monday, March 25 the stock rating was maintained by UBS with “Buy”. The company was maintained on Friday, March 1 by Citigroup.

Nordstrom, Inc. (NYSE:JWN) Institutional Positions Chart

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