Nordstrom Family Suspends Attempt To Take Retailer Private; Stock Down

Ivan Schwartz
October 17, 2017

Shares of Nordstrom, Inc. Finally, Sei Investments Co. raised its stake in Nordstrom by 32.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,376,015 shares of the specialty retailer's stock worth $64,082,000 after buying an additional 288,487 shares during the last quarter. Gemmer Asset Management LLC raised its stake in Nordstrom by 0.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer's stock valued at $131,000 after purchasing an additional 2,778 shares during the period.

Here are a few institutional investors who have updated their positions. Hennessy Advisors has invested 0.06% in Nordstrom, Inc. (NYSE:JWN) in a research report report published on Wednesday morning.

Nordstrom, Inc. Press Release, dated October16, 2017. Nordstrom, Inc. (NYSE:JWN) has risen 9.86% since October 16, 2016 and is uptrending. (NASDAQ:NFBK). Guggenheim Limited Liability Co accumulated 75,015 shares or 0% of the stock. The stock's market capitalization is 6.78B, it has a 52-week low of 39.53 and a 52-week high of 62.82.

It is now trading at $40.47 impressively lower than the 50 day moving average of $45.50 and quite a bit lower than the 200 day moving average of $45.81. Additionally Nordstrom, Inc. recently declared a dividend for shareholders that was paid on Tuesday the 12th of September 2017. (JWN) traded up 0.14% on Friday, reaching $42.65. The dividend payment was $0.370 per share for the quarter which comes to $1.48 on an annualized basis. The original version of this article can be read at Ledyard National Bank now holds 3,667 shares with a value of $173,000. William Blair restated an "outperform" rating on shares of Nordstrom in a report on Monday, February 6th. Vetr lowered shares of Nordstrom from a "sell" rating to a "strong sell" rating and set a $41.54 target price on the a report on Wednesday, July 5th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. The total value of its holdings decreased 3.5%. The Nordstrom family owns 31.2 percent of the company, which is valued at $6.79 billion.

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Neiman Marcus, another Nordstrom's rival, canceled plans earlier this year for an initial public offering after struggling with its soaring debt pile. Also, President Blake W. Nordstrom sold 3,169 shares of the business's stock in a transaction on Monday, March 13th. They now have a United States dollars 55 price target on the stock.

Ruby Tuesday shares climbed 18.8% to 2.37. The disclosure for this sale can be found here.

"Nordstom is a high-quality retailer, but it is still an apparel retailer, and that becomes hard to finance", said Tom Shandell, chief executive officer of Marble Point Credit Management. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business.

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