Sumitomo Mitsui Asset Management Company LTD Cuts Position in Nordstrom, Inc. (JWN)

Sumitomo Mitsui Asset Management Company LTD decreased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,136 shares of the specialty retailer’s stock after selling 49 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Nordstrom were worth $484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock worth $373,537,000 after buying an additional 7,689,800 shares in the last quarter. Bank of New York Mellon Corp increased its position in Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock worth $367,753,000 after buying an additional 1,364,328 shares in the last quarter. State Street Corp increased its position in Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock worth $294,822,000 after buying an additional 160,947 shares in the last quarter. Morgan Stanley increased its position in Nordstrom by 9.8% in the first quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock worth $162,799,000 after buying an additional 311,529 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Nordstrom by 32.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock worth $156,198,000 after buying an additional 816,498 shares in the last quarter. 64.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Nordstrom, Inc. (NYSE JWN) opened at 44.87 on Friday. Nordstrom, Inc. has a 52-week low of $39.53 and a 52-week high of $62.82. The stock’s 50 day moving average is $47.39 and its 200 day moving average is $45.51. The stock has a market cap of $7.45 billion, a PE ratio of 21.01 and a beta of 0.83.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. Nordstrom had a net margin of 2.51% and a return on equity of 69.16%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts forecast that Nordstrom, Inc. will post $2.96 earnings per share for the current year.

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JWN has been the subject of a number of research reports. Vetr downgraded shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 target price for the company. in a research report on Monday, May 29th. Piper Jaffray Companies set a $42.00 target price on shares of Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. 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 report on Thursday. Robert W. Baird set a $50.00 target price on shares of Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. Finally, ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.36.

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.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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