Great West Life Assurance Co. Can reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 39.2% during the second quarter, Holdings Channel reports. The firm owned 104,084 shares of the specialty retailer’s stock after selling 67,088 shares during the period. Great West Life Assurance Co. Can’s holdings in Nordstrom were worth $4,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Nordstrom by 116.7% in the second quarter. Janney Montgomery Scott LLC now owns 12,003 shares of the specialty retailer’s stock valued at $574,000 after buying an additional 6,463 shares during the period. Taylor Cottrill Erickson & Associates Inc. raised its stake in shares of Nordstrom by 94.9% in the second quarter. Taylor Cottrill Erickson & Associates Inc. now owns 8,420 shares of the specialty retailer’s stock worth $403,000 after buying an additional 4,100 shares during the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Nordstrom by 4.1% in the second quarter. Sumitomo Life Insurance Co. now owns 10,192 shares of the specialty retailer’s stock worth $487,000 after buying an additional 397 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Nordstrom by 22.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,920 shares of the specialty retailer’s stock worth $378,000 after buying an additional 1,450 shares during the last quarter. Finally, FineMark National Bank & Trust raised its stake in shares of Nordstrom by 2.1% in the second quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock worth $294,000 after buying an additional 128 shares during the last quarter. 66.53% of the stock is currently owned by institutional investors.

Shares of Nordstrom, Inc. (NYSE:JWN) opened at 45.36 on Tuesday. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82. The company has a market capitalization of $7.54 billion, a PE ratio of 21.49 and a beta of 0.83. The stock’s 50 day moving average is $47.24 and its 200 day moving average is $45.53.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.19%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Nordstrom, Inc. will post $2.97 EPS for the current fiscal year.

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A number of analysts have recently issued reports on the company. Robert W. Baird set a $50.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. BMO Capital Markets set a $48.00 price objective on Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. Piper Jaffray Companies set a $42.00 price objective on Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. UBS AG reissued a “buy” rating and issued a $51.00 price objective on shares of Nordstrom in a report on Monday, May 15th. Finally, Wolfe Research boosted their price objective on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday. Five 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 currently has an average rating of “Hold” and an average target price of $47.64.

About Nordstrom

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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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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