Asset Management One Co. Ltd. Reduced Holding in Nordstrom, Inc. (JWN)

Asset Management One Co. Ltd. Reduced Holding in Nordstrom, Inc. (JWN)

Asset Management One Co. Ltd. reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 2.6% during the first quarter, Holdings Channel reports. The institutional investor owned 228,011 shares of the specialty retailer’s stock after selling 6,011 shares during the period. Asset Management One Co. Ltd.’s holdings in Nordstrom were worth $10,617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tredje AP fonden raised its position in Nordstrom by 18.3% in the first quarter. Tredje AP fonden now owns 13,240 shares of the specialty retailer’s stock valued at $617,000 after buying an additional 2,049 shares in the last quarter. Cibc World Markets Corp raised its position in Nordstrom by 49.8% in the first quarter. Cibc World Markets Corp now owns 11,888 shares of the specialty retailer’s stock valued at $554,000 after buying an additional 3,954 shares in the last quarter. Kwmg LLC raised its position in Nordstrom by 38.8% in the first quarter. Kwmg LLC now owns 32,515 shares of the specialty retailer’s stock valued at $1,514,000 after buying an additional 9,086 shares in the last quarter. American International Group Inc. raised its position in Nordstrom by 20.6% in the first quarter. American International Group Inc. now owns 339,794 shares of the specialty retailer’s stock valued at $15,824,000 after buying an additional 58,012 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Nordstrom by 5.3% in the first quarter. Schroder Investment Management Group now owns 532,413 shares of the specialty retailer’s stock valued at $24,731,000 after buying an additional 26,927 shares in the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.

Shares of Nordstrom, Inc. (NYSE JWN) traded down 0.96% during midday trading on Friday, reaching $42.47. The company had a trading volume of 1,603,618 shares. Nordstrom, Inc. has a 1-year low of $35.01 and a 1-year high of $62.82. The stock has a market capitalization of $7.05 billion, a PE ratio of 19.88 and a beta of 1.01. The company’s 50-day moving average is $45.27 and its 200-day moving average is $47.42.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Friday, May 26th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, May 24th. Nordstrom’s payout ratio is 79.14%.

Several research analysts have weighed in on the stock. Vetr lowered shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a research note on Monday. Northcoast Research restated a “neutral” rating on shares of Nordstrom in a research note on Tuesday, May 16th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price target (down previously from $47.00) on shares of Nordstrom in a research note on Wednesday, May 17th. TheStreet lowered shares of Nordstrom from a “b-” rating to a “c” rating in a research note on Thursday, May 11th. Finally, Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the stock a “hold” rating in a research note on Saturday, May 13th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Nordstrom currently has an average rating of “Hold” and an average price target of $47.10.

In other Nordstrom news, insider Daniel F. Little sold 7,423 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $47.01, for a total transaction of $348,955.23. Following the completion of the transaction, the insider now owns 76,371 shares in the company, valued at approximately $3,590,200.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Blake W. Nordstrom sold 3,169 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $43.80, for a total value of $138,802.20. Following the transaction, the president now owns 2,140,587 shares of the company’s stock, valued at approximately $93,757,710.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,794 shares of company stock valued at $721,176. Company insiders own 7.03% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “JWN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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