Smith Asset Management Group LP Holding in Nordstrom INC (JWN) Has Decreased as Valuation Declined

Nordstrom, Inc. (NYSE:JWN) LogoInvestors sentiment decreased to 0.87 in Q1 2019. Its down 0.02, from 0.89 in 2018Q4. It worsened, 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. Engines Advisors Limited holds 81,342 shares. Proshare Advsrs Ltd Llc accumulated 19,505 shares or 0.01% of the stock. Svcs Automobile Association reported 376,207 shares. Old Second National Bank Of Aurora reported 300 shares. 182 were reported by Sun Life Finance. Hightower Ltd Liability Corp has 44,219 shares for 0.01% of their portfolio. M&T Bancorp holds 0% or 4,941 shares. Alliancebernstein Lp invested in 198,547 shares. 34,602 are held by Td Asset Management Incorporated. Prudential Financial owns 104,031 shares for 0.01% of their portfolio. Aristotle Capital Mgmt holds 0.01% in Nordstrom, Inc. (NYSE:JWN) or 22,733 shares. Winslow Asset Mngmt invested 1.08% of its portfolio in Nordstrom, Inc. (NYSE:JWN). Laffer Investments has 0% invested in Nordstrom, Inc. (NYSE:JWN) for 46,993 shares. Moreover, Bnp Paribas Asset Sa has 0.05% invested in Nordstrom, Inc. (NYSE:JWN) for 126,095 shares. Pnc Financial Services Group reported 48,150 shares stake.

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 $3.92B market cap company. The stock decreased 2.57% or $0.67 during the last trading session, reaching $25.35. About 6.26 million 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 Expeditors Intl Wash Inc (NASDAQ:EXPD) by 366,680 shares to 485,200 shares, valued at $36.83M in 2019Q1, according to the filing. It also increased its holding in Csx Corp (NYSE:CSX) by 124,820 shares in the quarter, for a total of 242,270 shares, and has risen its stake in Centene Corp (NYSE:CNC).

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 $123.71M 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: Seekingalpha.com which released: “Department store sector rattled by soft Macy’s guidance – Seeking Alpha” on August 14, 2019, also Seekingalpha.com with their article: “Kohl’s Could Be An Interesting Short-Term Value Realization Play, But I’m Bearish Long Term – Seeking Alpha” published on August 08, 2019, Investorplace.com published: “Stock Market Today: Are We About to Enter a Recession? – Investorplace.com” on August 14, 2019. More interesting news about Nordstrom, Inc. (NYSE:JWN) were released by: Seekingalpha.com and their article: “Nordstrom jumps 10% on report family exploring majority stake – Seeking Alpha” published on July 31, 2019 as well as Benzinga.com‘s news article titled: “Analysts Dissect Reports Of Nordstrom Family’s Play For Majority Stake In Retailer – Benzinga” with publication date: August 01, 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. The firm has “Hold” rating by Credit Suisse given on Friday, March 1. Deutsche Bank maintained the stock with “Hold” rating in Friday, March 1 report. The stock has “Hold” rating by Piper Jaffray on Friday, March 1. The company was maintained on Monday, March 25 by UBS. The rating was upgraded by KeyBanc Capital Markets to “Overweight” on Wednesday, April 10. Citigroup maintained Nordstrom, Inc. (NYSE:JWN) on Friday, March 1 with “Neutral” rating.

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

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