Pioneer Investment Management Inc. bought a new stake in Nordstrom, Inc. (NYSE:JWN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 234,518 shares of the specialty retailer’s stock, valued at approximately $11,217,000. Pioneer Investment Management Inc. owned about 0.14% of Nordstrom at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in JWN. BlackRock Inc. raised its position in shares of Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after buying an additional 7,689,800 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 valued at $367,753,000 after buying an additional 1,364,328 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of 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 valued at $156,198,000 after buying an additional 816,498 shares during the period. American Century Companies Inc. bought a new position in shares of Nordstrom during the first quarter valued at about $25,172,000. Finally, Gabalex Capital Management LLC bought a new position in shares of Nordstrom during the first quarter valued at about $23,285,000. Institutional investors own 64.36% of the company’s stock.
Nordstrom, Inc. (JWN) opened at 44.90 on Friday. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82. The company has a 50-day moving average of $47.32 and a 200-day moving average of $45.51. The company has a market capitalization of $7.46 billion, a P/E ratio of 21.02 and a beta of 0.83.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.19%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts expect that Nordstrom, Inc. will post $2.96 EPS for the current fiscal year.
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Several research analysts recently issued reports on JWN shares. TheStreet lowered shares of Nordstrom from a “b-” rating to a “c” rating in a research report on Thursday, May 11th. Atlantic Securities upgraded shares of Nordstrom from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $58.00 in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Maxim Group set a $61.00 target price on shares of Nordstrom and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Vetr upgraded shares of Nordstrom from a “buy” rating to a “strong-buy” rating and set a $53.07 target price for the company in a research report on Tuesday, April 18th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $47.34.
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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