Migdal Insurance & Financial Holdings Ltd. Trims Position in Nordstrom, Inc. (JWN)

Migdal Insurance & Financial Holdings Ltd. decreased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 69.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,151 shares of the specialty retailer’s stock after selling 4,938 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Nordstrom were worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JWN. Parallel Advisors LLC boosted its position in Nordstrom by 12.7% during the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 236 shares during the last quarter. Gemmer Asset Management LLC boosted its position in Nordstrom by 0.8% during the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 18 shares during the last quarter. NEXT Financial Group Inc boosted its position in Nordstrom by 55.4% during the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 942 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Nordstrom by 6,460.5% during the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Nordstrom by 32.0% during the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 771 shares during the last quarter. 63.08% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on JWN shares. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and set a $53.00 price objective (up previously from $49.00) on shares of Nordstrom in a research report on Wednesday, September 13th. Vetr cut Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective for the company. in a research report on Wednesday, July 5th. BidaskClub cut Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $45.00 price objective on shares of Nordstrom in a research report on Thursday, October 5th. 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. Nordstrom presently has a consensus rating of “Hold” and an average price target of $47.77.

Shares of Nordstrom, Inc. (NYSE JWN) traded down 1.28% during trading on Thursday, reaching $42.37. The company had a trading volume of 674,689 shares. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 20.07 and a beta of 0.85. The firm has a 50 day moving average price of $45.59 and a 200 day moving average price of $45.81. Nordstrom, Inc. has a 12 month low of $39.53 and a 12 month high of $62.82.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts predict that Nordstrom, Inc. will post $2.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Nordstrom’s dividend payout ratio is currently 70.14%.

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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.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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