Principal Financial Group Inc. Has $14.18 Million Holdings in Nordstrom, Inc. (NYSE:JWN)

Principal Financial Group Inc. increased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,518 shares of the specialty retailer’s stock after purchasing an additional 52,175 shares during the period. Principal Financial Group Inc. owned about 0.24% of Nordstrom worth $14,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JWN. Oxler Private Wealth LLC acquired a new stake in Nordstrom during the fourth quarter worth $31,000. Private Capital Group LLC increased its stake in Nordstrom by 87.4% in the first quarter. Private Capital Group LLC now owns 937 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 437 shares during the period. Charter Oak Capital Management LLC acquired a new position in Nordstrom in the fourth quarter worth about $36,000. Neo Ivy Capital Management bought a new position in Nordstrom during the fourth quarter worth about $46,000. Finally, CWM LLC boosted its holdings in Nordstrom by 419.5% during the first quarter. CWM LLC now owns 1,574 shares of the specialty retailer’s stock valued at $60,000 after purchasing an additional 1,271 shares in the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

Several equities analysts recently commented on the company. Telsey Advisory Group cut their target price on Nordstrom from $44.00 to $36.00 in a research report on Wednesday, May 26th. Barclays boosted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, May 26th. JPMorgan Chase & Co. lifted their price target on shares of Nordstrom from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, May 17th. Jefferies Financial Group initiated coverage on shares of Nordstrom in a research note on Friday, March 12th. They set a “buy” rating and a $48.00 price objective on the stock. Finally, TheStreet upgraded shares of Nordstrom from a “d+” rating to a “c-” rating in a research note on Monday, May 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.33.

In other Nordstrom news, CFO Anne L. Bramman sold 6,667 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $40.00, for a total transaction of $266,680.00. Following the transaction, the chief financial officer now owns 143,349 shares in the company, valued at $5,733,960. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Ken Worzel sold 13,762 shares of the business’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $41.20, for a total value of $566,994.40. Following the transaction, the chief operating officer now owns 144,778 shares of the company’s stock, valued at $5,964,853.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,361 shares of company stock valued at $2,088,609 in the last ninety days. Company insiders own 5.55% of the company’s stock.

Nordstrom stock opened at $34.33 on Friday. The firm has a 50-day moving average price of $36.93. The company has a debt-to-equity ratio of 17.15, a quick ratio of 0.38 and a current ratio of 0.87. The company has a market capitalization of $5.46 billion, a PE ratio of -16.19, a price-to-earnings-growth ratio of 4.92 and a beta of 2.43. Nordstrom, Inc. has a 12-month low of $11.72 and a 12-month high of $46.45.

Nordstrom (NYSE:JWN) last issued its earnings results on Monday, May 24th. The specialty retailer reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.83 billion. Nordstrom had a negative net margin of 2.89% and a negative return on equity of 128.87%. The firm’s revenue for the quarter was up 44.2% compared to the same quarter last year. During the same period last year, the business posted ($2.23) EPS. Research analysts predict that Nordstrom, Inc. will post 1.17 earnings per share for the current fiscal year.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com, and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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