Teachers Retirement System of The State of Kentucky lessened its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,550 shares of the specialty retailer’s stock after selling 2,750 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Nordstrom were worth $600,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gemmer Asset Management LLC lifted its holdings in shares of Nordstrom by 0.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 18 shares during the last quarter. NEXT Financial Group Inc raised its stake in Nordstrom by 55.4% in the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 942 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Nordstrom by 6,460.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after acquiring an additional 2,778 shares during the last quarter. Sei Investments Co. raised its stake in Nordstrom by 32.0% in the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 771 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its stake in Nordstrom by 8.2% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock worth $153,000 after acquiring an additional 242 shares during the last quarter. 63.07% of the stock is currently owned by institutional investors and hedge funds.
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JWN has been the subject of a number of research analyst reports. Cowen and Company restated a “buy” rating and issued a $49.00 target price on shares of Nordstrom in a research note on Friday, August 11th. Credit Suisse Group reiterated a “buy” rating and set a $52.00 price objective on shares of Nordstrom in a research note on Thursday, August 10th. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, August 10th. KeyCorp set a $55.00 target price on Nordstrom and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Saturday, August 12th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.77.
Nordstrom, Inc. (NYSE:JWN) opened at 42.21 on Friday. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82. The firm has a 50 day moving average of $44.68 and a 200 day moving average of $45.60. The firm has a market cap of $7.02 billion, a P/E ratio of 20.00 and a beta of 0.85.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, equities research analysts expect that Nordstrom, Inc. will post $2.98 EPS for the current year.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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