Pioneer Investment Management Inc. Takes Position in Nordstrom, Inc. (NYSE:JWN)
Pioneer Investment Management Inc. bought a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the second quarter, Holdings Channel reports. The fund bought 234,518 shares of the specialty retailer’s stock, valued at approximately $11,217,000.
Several other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP raised its position in Nordstrom by 72.8% in the first quarter. First Trust Advisors LP now owns 264,500 shares of the specialty retailer’s stock worth $12,318,000 after buying an additional 111,458 shares during the period. Boston Private Wealth LLC bought a new stake in shares of Nordstrom during the first quarter valued at approximately $492,000. Scopus Asset Management L.P. raised its stake in shares of Nordstrom by 50.0% in the first quarter. Scopus Asset Management L.P. now owns 600,000 shares of the specialty retailer’s stock valued at $27,942,000 after buying an additional 200,000 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Nordstrom by 53.4% in the first quarter. Toronto Dominion Bank now owns 30,914 shares of the specialty retailer’s stock valued at $1,440,000 after buying an additional 10,764 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Nordstrom by 20.7% in the first quarter. Bank of America Corp DE now owns 1,031,859 shares of the specialty retailer’s stock valued at $48,054,000 after buying an additional 176,908 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom, Inc. (JWN) opened at 44.90 on Friday. The stock’s 50 day moving average price is $47.32 and its 200 day moving average price is $45.51. The stock has a market capitalization of $7.46 billion, a PE ratio of 21.02 and a beta of 0.83. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (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 analyst estimates of $3.70 billion. Nordstrom had a return on equity of 71.19% and a net margin of 2.44%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Equities research analysts forecast that Nordstrom, Inc. will post $2.96 earnings per share for the current year.
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Several brokerages have commented on JWN. Robert W. Baird set a $50.00 target price on shares of Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. BMO Capital Markets set a $48.00 target price on shares of Nordstrom and gave the company a “hold” rating in a research note on Saturday, May 13th. Piper Jaffray Companies set a $42.00 target price on shares of Nordstrom and gave the company a “hold” rating in a research note on Saturday, May 13th. UBS AG reissued a “buy” rating and issued a $51.00 target price on shares of Nordstrom in a research note on Monday, May 15th. Finally, Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective for the company. in a research note on Wednesday, July 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.34.
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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