Ontario Teachers Pension Plan Board reduced its stake in Nordstrom, Inc. (NYSE:JWN) by 42.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,469 shares of the specialty retailer’s stock after selling 89,475 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.07% of Nordstrom worth $5,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JWN. BlackRock Inc. increased its holdings in Nordstrom by 2,321.7% in the 1st quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after acquiring an additional 7,689,800 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Nordstrom by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after acquiring an additional 2,985,551 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after acquiring an additional 1,149,685 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Nordstrom by 32.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after acquiring an additional 816,498 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Nordstrom by 245.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock valued at $50,919,000 after acquiring an additional 756,061 shares during the last quarter. Institutional investors own 63.14% of the company’s stock.

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Shares of Nordstrom, Inc. (JWN) opened at 47.15 on Friday. Nordstrom, Inc. has a 52-week low of $39.53 and a 52-week high of $62.82. The stock has a market capitalization of $7.84 billion, a PE ratio of 22.34 and a beta of 0.82. The firm has a 50-day moving average of $45.72 and a 200 day moving average of $45.61.

Nordstrom (NYSE:JWN) last announced its 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. Nordstrom’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. Equities research analysts forecast that Nordstrom, Inc. will post $2.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, August 24th. Nordstrom’s dividend payout ratio (DPR) is presently 70.14%.

A number of analysts have issued reports on the stock. Cowen and Company reiterated an “outperform” rating and issued a $49.00 price target on shares of Nordstrom in a report on Friday, June 9th. Royal Bank Of Canada set a $45.00 price target on shares of Nordstrom and gave the company a “hold” rating in a report on Tuesday, August 29th. ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Robert W. Baird set a $50.00 price target on shares of Nordstrom and gave the company a “hold” rating in a report on Saturday, August 12th. Finally, J P Morgan Chase & Co reissued an “underweight” rating and issued a $48.00 price objective on shares of Nordstrom in a research note on Friday, July 14th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. Nordstrom has an average rating of “Hold” and an average price target of $48.26.

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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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