Cetera Investment Advisers acquired a new stake in shares of Nordstrom, Inc. (NYSE:JWN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,583 shares of the specialty retailer’s stock, valued at approximately $269,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $520,501,000 after buying an additional 2,985,551 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Nordstrom by 1.9% during the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock valued at $390,843,000 after buying an additional 150,539 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Nordstrom by 32.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after buying an additional 816,498 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Nordstrom by 168.7% during 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 buying an additional 1,149,685 shares during the last quarter. Finally, York Capital Management Global Advisors LLC acquired a new position in shares of Nordstrom during the second quarter valued at about $75,623,000. Hedge funds and other institutional investors own 63.00% of the company’s stock.
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Shares of Nordstrom, Inc. (NYSE:JWN) opened at 42.15 on Friday. The stock has a 50 day moving average of $45.04 and a 200 day moving average of $45.64. Nordstrom, Inc. has a 52-week low of $39.53 and a 52-week high of $62.82. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 19.97 and a beta of 0.85.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company 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 firm’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. On average, equities research analysts expect that Nordstrom, Inc. will post $2.98 EPS for the current year.
A number of brokerages have recently issued reports on JWN. Vetr cut shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective for the company. in a report on Wednesday, July 5th. Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the stock a “hold” rating in a report on Tuesday, July 25th. KeyCorp restated an “overweight” rating and set a $55.00 price target on shares of Nordstrom in a report on Thursday, September 14th. J P Morgan Chase & Co restated an “underweight” rating and set a $48.00 price target on shares of Nordstrom in a report on Friday, July 14th. Finally, Credit Suisse Group restated a “buy” rating and set a $52.00 price target on shares of Nordstrom in a report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company’s stock. Nordstrom presently has an average rating of “Hold” and a consensus target price of $47.77.
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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