State of Tennessee Treasury Department grew its holdings in Nordstrom, Inc. (NYSE:JWN) by 29.4% during the 4th quarter, Holdings Channel reports. The firm owned 181,256 shares of the specialty retailer’s stock after purchasing an additional 41,143 shares during the quarter. State of Tennessee Treasury Department’s holdings in Nordstrom were worth $8,587,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of JWN. Bank of New York Mellon Corp boosted its holdings in shares of Nordstrom by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock valued at $485,413,000 after acquiring an additional 1,078,880 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Nordstrom by 596.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 779,081 shares of the specialty retailer’s stock valued at $36,734,000 after acquiring an additional 667,296 shares in the last quarter. USS Investment Management Ltd acquired a new stake in shares of Nordstrom during the 4th quarter valued at $27,700,000. Schroder Investment Management Group boosted its holdings in shares of Nordstrom by 97.6% during the 4th quarter. Schroder Investment Management Group now owns 1,036,341 shares of the specialty retailer’s stock valued at $49,102,000 after acquiring an additional 511,905 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Nordstrom by 196.0% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 694,237 shares of the specialty retailer’s stock valued at $32,733,000 after acquiring an additional 459,719 shares in the last quarter. Institutional investors own 57.38% of the company’s stock.
Several equities research analysts recently weighed in on JWN shares. KeyCorp reissued an “outperform” rating on shares of Nordstrom in a report on Friday, November 10th. Zacks Investment Research downgraded Nordstrom from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. JPMorgan Chase & Co. raised Nordstrom from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $33.00 to $48.00 in a report on Tuesday, January 2nd. Piper Jaffray Companies set a $45.00 price objective on Nordstrom and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, Robert W. Baird reissued a “hold” rating and set a $50.00 price objective on shares of Nordstrom in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.98.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Monday, March 5th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, March 2nd. Nordstrom’s payout ratio is presently 52.11%.
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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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