• Disclaimer
  • Privacy Policy
Media Coverage
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
Media Coverage
No Result
View All Result
Home Market coverage

Boenning & Scattergood Inc. Trims Holdings in Nordstrom Inc. by 69.5%: Insights and Lessons for Investors and Businesses Alike

Roberto Liccardo by Roberto Liccardo
April 8, 2023
in Market coverage
0
Financial services stock market today
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Boenning & Scattergood Inc., a reputable Philadelphia-based investment management firm, recently made headlines after trimming its holdings in Nordstrom, Inc. (NYSE:JWN) by a staggering 69.5% during the fourth quarter of 2020. This move was detailed in its latest 13F filing with the US Securities and Exchange Commission (SEC). According to the report, Boenning & Scattergood held only 9,000 shares of Nordstrom’s stock after selling up to 20,516 shares during the said period.

Nordstrom, which manufactures and sells clothes, shoes and accessories for women, men and children under premium brand names and private labels alongside cosmetics through retail stores and an e-commerce website is one of America’s oldest specialty retail department stores. It operates two segments; Retail and Corporate/Other.

The market overview for JWN stocks on Friday reveals that they opened at $16.08 while holding a significant PE ratio of 10.65 with a price-to-earnings-growth ratio pegged at 1.44 on a beta rate of 2.21 following steady financial performances within recent years.

It must come as somewhat unsettling news to enthusiasts and investors alike to observe such drastic action from Boenning & Scattergood Inc.; however there are several conclusions to draw from this move based on Northstorm’s current financial indices.

The company has maintained stable annual revenue figures over the past few years but still faces numerous challenges unique to retailers across America amid economic boom and recessions in different states across the country alongside the emergence of several E-Commerce companies eating into its customer base since online shopping became more accessible during COVID restrictions in early last year affecting almost all sectors including businesses.

Given these conditions undoubtedly challenge even well-established traditional brands like Nordstrom ultimately having negative consequences reflected in their falling growth projections accounting for institutions moving away from such investments as demonstrated by Boenning & Scattergood. It goes places to remind businesses of the importance of being adaptable and finding ways to stay relevant thus remaining profitable even amid unfavorable climatic circumstances.

Nordstrom, Inc.: High-Quality Retailer Receives Mixed Ratings from Experts



Nordstrom, Inc.: A High-Quality Retailer with Mixed Ratings

Nordstrom, Inc. is a leading manufacturer and trader of clothes, shoes, and accessories for men, women, young adults, and children. The company operates through two segments: Retail and Corporate/Other. While the specialty retailer has recently posted favorable earnings results in Q1 2017 beating analysts’ consensus estimates of $0.65 EPS with actual earnings per share of $0.74 and had revenue of $4.2 billion during the quarter, down 4.2% compared to the same quarter last year; it is currently facing mixed ratings from several institutions.

Several institutional investors have either added or reduced their stakes in Nordstrom lately: Marshall & Sullivan Inc., WA purchased a new stake during the 4th quarter valued at about $37 million; Newbridge Financial Services Group Inc., also bought a new stake during Q4 2016 valued at about $40 million; Captrust Financial Advisors grew its stake in Nordstrom by 44.9% during Q2 2016 to become one of the shareholders having a total value of $58m at present; Rockefeller Capital Management L.P., now has shares valued at $69m after purchasing an additional 3,906 shares during the last quarter while DZ Bank AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Nordstrom in Q2 2016 with a total value of around $151m resulting in 66.41% of the stock being owned by hedge funds.

However, Nordstrom received mixed ratings from four equities research analysts out of eighteen experts across research firms including KeyCorp reducing their price target on Nordstrom from $30 to $22 per share on January 20th while assigning an “overweight” rating for the company; Gordon Haskett raised Nordstrom’s rating for the company from “reduce” to “hold” with a $22 target price. On the other hand, Morgan Stanley reduced their target price on Nordstrom from $21 to $19 per share, assigning an “underweight” rating while Citigroup upped their target price on Nordstrom from $17 to $20 per share and gave the stock a “neutral” rating. Currently, Bloomberg.com reveals that Nordstrom has a consensus rating of “Hold” with a consensus target price of $19.61.

In conclusion, Nordstrom, Inc. is a high-quality retailer that continues to adapt to changing trends and generations to remain relevant and competitive; however, its mixed ratings show that there is room for improvement in the eyes of some experts. The company’s expansion into new distribution channels may help propel growth in the near future even though its revenue was down 4.2% compared to last year’s figures despite being able to beat analysts’ earnings estimates for Q1 2017.

Tags: JWN
Previous Post

Boenning & Scattergood Inc. Purchases Shares in SCCO Amidst Positive Market Trends, Director Sells Stock

Next Post

Sigma Planning Corp Makes Notable Acquisition of Shares in Mplx Lp Despite Mixed Earnings Updates

Next Post
Capital finance stock investing

Sigma Planning Corp Makes Notable Acquisition of Shares in Mplx Lp Despite Mixed Earnings Updates

Wealth

Sugarhill Ddot’s Net Worth: Inside The Career of the Rising Drill Rap Star

by Gabriel Bello Obando
November 10, 2023
0

When it comes to the hip-hop scene in America, there are a few names that stand out. However, one name...

Read more

From Telenovelas to Hollywood: Exploring Kate del Castillo Net Worth and Career Achievements

June 1, 2023

Adamari López Net Worth: An Inspirational Tale of Resilience Beyond The Screen

June 1, 2023

Simon Helberg Net Worth: A Multi-Talented Hollywood Star

June 1, 2023

Sam Bailey Net Worth: Her Journey to Fame and Musical Career

June 1, 2023

Categories

  • Analyst Ratings
  • Business
  • Business news
  • Market coverage
  • Pre-IPO & Startups
  • Stock Markets
  • Wealth
  • World Economy

About Us

Our team of experienced journalists and industry experts is committed to providing you with the latest and most accurate information on a wide range of topics, from finance and technology to politics and the economy.

We are proud to be part of the Best Stocks team and to offer our readers exceptional content that is informed by our combined expertise. We look forward to continuing to serve our readers and to playing a key role in the world of business analysis and reporting.

READ MORE

  • Media Contacts
  • Journalist Contacts
  • Contact
  • About us
  • Disclaimer
  • Privacy Policy

© 2023 Media Coverage

No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact

© 2023 Media Coverage