Clinton Group Inc. lifted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 24.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,351 shares of the specialty retailer’s stock after purchasing an additional 1,437 shares during the quarter. Clinton Group Inc.’s holdings in Nordstrom were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Nordstrom by 37.8% during the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after purchasing an additional 2,985,551 shares in the last quarter. BlackRock Inc. raised its stake in shares of Nordstrom by 1.9% during the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock valued at $390,843,000 after purchasing an additional 150,539 shares in the last quarter. State Street Corp raised its stake in shares of Nordstrom by 2.6% during the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after purchasing an additional 160,947 shares in the last quarter. Morgan Stanley raised its stake in shares of Nordstrom by 9.8% during the first quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock valued at $162,799,000 after purchasing an additional 311,529 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Nordstrom by 32.2% during 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 purchasing an additional 816,498 shares in the last quarter. Institutional investors and hedge funds own 63.08% of the company’s stock.

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A number of research analysts recently issued reports on the company. Royal Bank Of Canada set a $45.00 target price on Nordstrom and gave the stock a “hold” rating in a report on Tuesday, August 29th. ValuEngine lowered Nordstrom from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Robert W. Baird set a $50.00 target price on Nordstrom and gave the stock a “hold” rating in a report on Saturday, August 12th. Cowen and Company reaffirmed an “outperform” rating and set a $49.00 target price on shares of Nordstrom in a report on Tuesday, August 29th. Finally, J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $48.00 target price on shares of Nordstrom in a report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. Nordstrom currently has an average rating of “Hold” and a consensus price target of $47.77.

Nordstrom, Inc. (JWN) opened at 44.31 on Monday. The firm’s 50-day moving average price is $45.67 and its 200 day moving average price is $45.75. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82. The stock has a market cap of $7.37 billion, a PE ratio of 20.99 and a beta of 0.85.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that Nordstrom, Inc. will post $2.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were issued a $0.37 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. Nordstrom’s dividend payout ratio (DPR) is currently 70.14%.

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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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