Gotham Asset Management LLC lessened its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 56.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 69,530 shares of the specialty retailer’s stock after selling 90,842 shares during the quarter. Gotham Asset Management LLC’s holdings in Nordstrom were worth $3,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of JWN. BlackRock Inc. lifted its stake in shares of Nordstrom by 2,321.7% during the 1st quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock worth $373,537,000 after buying an additional 7,689,800 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after buying an additional 2,985,551 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Nordstrom by 168.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock worth $87,584,000 after buying an additional 1,149,685 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Nordstrom by 32.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock worth $156,198,000 after buying an additional 816,498 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Nordstrom by 245.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock worth $50,919,000 after buying an additional 756,061 shares during the last quarter. Institutional investors own 63.08% of the company’s stock.

A number of analysts have recently issued reports on the stock. Vetr cut shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price for the company. in a research note on Wednesday, July 5th. Robert W. Baird set a $50.00 target price on shares of Nordstrom and gave the stock a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, August 10th. Wolfe Research lifted their price objective on shares of Nordstrom from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Finally, Royal Bank Of Canada set a $45.00 price objective on shares of Nordstrom and gave the stock a “hold” rating in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.77.

Nordstrom (NYSE:JWN) last posted 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 company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the business earned $0.67 earnings per share. Nordstrom’s revenue for the quarter was up 3.5% compared to the same quarter last year.

TRADEMARK VIOLATION NOTICE: “Gotham Asset Management LLC Cuts Stake in Nordstrom, Inc. (JWN)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/13/gotham-asset-management-llc-cuts-stake-in-nordstrom-inc-jwn.html.

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)

Receive News & Stock Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related stocks with our FREE daily email newsletter.