Hennessy Advisors Inc. Sells 206,600 Shares of Nordstrom, Inc. (NYSE:JWN)

Hennessy Advisors Inc. lowered its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 8.9% during the first quarter, Holdings Channel reports. The firm owned 2,113,300 shares of the specialty retailer’s stock after selling 206,600 shares during the period. Nordstrom makes up approximately 1.7% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 10th largest position. Hennessy Advisors Inc.’s holdings in Nordstrom were worth $51,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC increased its holdings in shares of Nordstrom by 11.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer’s stock valued at $90,752,000 after acquiring an additional 372,024 shares during the period. Dimensional Fund Advisors LP grew its position in Nordstrom by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,322 shares of the specialty retailer’s stock valued at $78,858,000 after buying an additional 138,900 shares during the last quarter. American Century Companies Inc. grew its position in Nordstrom by 18.3% in the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after buying an additional 450,539 shares during the last quarter. Pentwater Capital Management LP purchased a new position in Nordstrom in the 4th quarter valued at $61,582,000. Finally, Charles Schwab Investment Management Inc. grew its position in Nordstrom by 20.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock valued at $41,356,000 after buying an additional 289,596 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup reiterated a “sell” rating and issued a $22.00 price objective (down from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Wall Street Zen assumed coverage on shares of Nordstrom in a research report on Sunday, May 18th. They issued a “buy” rating on the stock. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.68 on Friday. The firm has a market capitalization of $4.13 billion, a P/E ratio of 15.72 and a beta of 2.36. Nordstrom, Inc. has a one year low of $19.45 and a one year high of $24.99. The company’s fifty day moving average is $24.33 and its two-hundred day moving average is $24.13. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

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; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.