Shares of Nordstrom, Inc. (NYSE:JWN) hit a new 52-week low during trading on Tuesday . The stock traded as low as $39.51 and last traded at $39.55, with a volume of 1,044,089 shares. The stock had previously closed at $40.00.

A number of equities analysts have weighed in on JWN shares. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. KeyCorp set a $55.00 target price on shares of Nordstrom and gave the company a “buy” rating in a research note on Wednesday, October 11th. Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price for the company. in a research note on Wednesday, July 5th. Finally, BidaskClub downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $47.41.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ 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 company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share.

A number of institutional investors have recently added to or reduced their stakes in JWN. Bank of New York Mellon Corp increased its position in Nordstrom by 37.8% during the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after purchasing an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new stake in Nordstrom during the second quarter worth about $75,623,000. Principal Financial Group Inc. increased its position in Nordstrom by 168.7% during the second quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock worth $87,584,000 after purchasing an additional 1,149,685 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in Nordstrom by 1,155.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock worth $42,722,000 after purchasing an additional 822,038 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Nordstrom by 245.1% during the second quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock worth $50,919,000 after purchasing an additional 756,061 shares during the last quarter. Hedge funds and other institutional investors own 63.06% of the company’s stock.

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Nordstrom Company Profile

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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