Nordstrom, Inc. (JWN) Stake Maintained by Municipal Employees Retirement System of Michigan

Nordstrom, Inc. (JWN) Stake Maintained by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan continued to hold its position in Nordstrom, Inc. (NYSE:JWN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,060 shares of the company’s stock at the end of the third quarter. Municipal Employees Retirement System of Michigan’s holdings in Nordstrom were worth $211,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock worth $526,621,000 after buying an additional 1,945,151 shares in the last quarter. Bank of New York Mellon Corp raised its position in Nordstrom by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 7,853,110 shares of the company’s stock worth $298,811,000 after buying an additional 414,860 shares in the last quarter. JPMorgan Chase & Co. raised its position in Nordstrom by 26.4% in the third quarter. JPMorgan Chase & Co. now owns 4,294,122 shares of the company’s stock worth $222,779,000 after buying an additional 897,203 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Nordstrom by 4.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,861,213 shares of the company’s stock worth $146,919,000 after buying an additional 160,682 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock worth $136,755,000 after buying an additional 929,597 shares in the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nordstrom, Inc. (NYSE:JWN) traded down 3.36% during trading on Friday, reaching $42.83. 3,299,444 shares of the company’s stock were exchanged. The company has a 50 day moving average of $48.33 and a 200 day moving average of $50.40. The firm has a market capitalization of $7.42 billion, a P/E ratio of 22.79 and a beta of 1.00. Nordstrom, Inc. has a 52-week low of $35.01 and a 52-week high of $62.82.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.32. The business earned $3.47 billion during the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. Equities analysts anticipate that Nordstrom, Inc. will post $2.94 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on JWN shares. Zacks Investment Research raised Nordstrom from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Cowen and Company set a $64.00 price objective on shares of Nordstrom and gave the company a “buy” rating in a research report on Friday, November 11th. Vetr downgraded shares of Nordstrom from a “strong-buy” rating to a “buy” rating and set a $46.75 price objective for the company. in a research report on Monday, January 23rd. Bank of America Corporation set a $40.00 price objective on shares of Nordstrom and gave the company a “sell” rating in a research report on Friday, November 11th. Finally, RBC Capital Markets set a $59.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Thursday, January 5th. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.62.

In other Nordstrom news, Director Enrique Hernandez, Jr. sold 24,534 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $58.38, for a total value of $1,432,294.92. Following the transaction, the director now owns 3,772 shares in the company, valued at approximately $220,209.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Blake W. Nordstrom sold 42,847 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $60.00, for a total transaction of $2,570,820.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,342 shares of company stock worth $10,568,441. Company insiders own 7.03% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 123 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 215 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

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