State Treasurer State of Michigan decreased its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,292 shares of the specialty retailer’s stock after selling 1,300 shares during the quarter. State Treasurer State of Michigan’s holdings in Nordstrom were worth $1,664,000 at the end of the most recent quarter.

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

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Several equities research analysts have commented on JWN shares. Vetr upgraded shares of Nordstrom from a “strong sell” rating to a “sell” rating and set a $41.54 price target on the stock in a research note on Tuesday, July 11th. J P Morgan Chase & Co restated an “underweight” rating and issued a $48.00 price target on shares of Nordstrom in a research note on Friday, July 14th. Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, August 10th. Finally, Credit Suisse Group restated a “buy” rating and issued a $52.00 price target on shares of Nordstrom in a research note on Thursday, August 10th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.41.

Shares of Nordstrom, Inc. (JWN) opened at $38.50 on Friday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.01 and a quick ratio of 0.40. The company has a market cap of $6,400.24, a P/E ratio of 11.70, a P/E/G ratio of 2.15 and a beta of 0.84. Nordstrom, Inc. has a 12-month low of $38.43 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.72 billion during 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 quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. research analysts forecast that Nordstrom, Inc. will post 2.98 earnings per share for the current year.

Nordstrom 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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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