Russell Investments Group Ltd. raised its position in Nordstrom, Inc. (NYSE:JWN) by 11.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,972 shares of the specialty retailer’s stock after buying an additional 6,384 shares during the period. Russell Investments Group Ltd.’s holdings in Nordstrom were worth $2,964,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of JWN. DnB Asset Management AS acquired a new position in shares of Nordstrom during the first quarter worth about $520,000. Nisa Investment Advisors LLC raised its position in shares of Nordstrom by 20.8% in the first quarter. Nisa Investment Advisors LLC now owns 50,468 shares of the specialty retailer’s stock worth $2,350,000 after buying an additional 8,700 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Nordstrom by 5.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,467 shares of the specialty retailer’s stock worth $151,000 after buying an additional 180 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Nordstrom by 136.3% in the first quarter. ProShare Advisors LLC now owns 25,236 shares of the specialty retailer’s stock worth $1,175,000 after buying an additional 14,557 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Nordstrom by 29.0% in the first quarter. Hennessy Advisors Inc. now owns 47,100 shares of the specialty retailer’s stock worth $2,193,000 after buying an additional 10,600 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Shares of Nordstrom, Inc. (NYSE JWN) traded up 0.81% during midday trading on Wednesday, hitting $44.90. 317,710 shares of the stock were exchanged. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 21.27 and a beta of 0.83. The firm’s 50 day moving average is $46.42 and its 200-day moving average is $45.56. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Nordstrom, Inc. will post $2.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, August 24th. Nordstrom’s dividend payout ratio (DPR) is presently 70.14%.

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JWN has been the subject of a number of recent research reports. Atlantic Securities upgraded Nordstrom from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $45.00 to $58.00 in a research report on Thursday, May 4th. Maxim Group set a $61.00 target price on Nordstrom and gave the company a “buy” rating in a report on Thursday, May 4th. Gordon Haskett began coverage on Nordstrom in a report on Tuesday, May 9th. They issued an “accumulate” rating and a $54.00 target price for the company. Zacks Investment Research upgraded Nordstrom from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, Nomura restated a “hold” rating and issued a $42.00 target price on shares of Nordstrom in a report on Friday, May 12th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.10.

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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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