State Treasurer State of Michigan reduced its holdings in Nordstrom, Inc. (NYSE:JWN) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 34,192 shares of the specialty retailer’s stock after selling 1,100 shares during the period. State Treasurer State of Michigan’s holdings in Nordstrom were worth $1,620,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JWN. San Francisco Sentry Investment Group CA increased its holdings in Nordstrom by 1,752.0% in the third quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 2,190 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Nordstrom in the fourth quarter worth approximately $115,000. Cerebellum GP LLC bought a new stake in Nordstrom in the fourth quarter worth approximately $131,000. Advisory Services Network LLC increased its holdings in Nordstrom by 41.8% in the second quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Thrivent Financial For Lutherans bought a new stake in Nordstrom in the second quarter worth approximately $202,000. Institutional investors and hedge funds own 57.86% of the company’s stock.

A number of equities research analysts have weighed in on JWN shares. Cowen reiterated a “buy” rating and issued a $50.00 target price on shares of Nordstrom in a report on Friday, November 10th. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, January 15th. BMO Capital Markets set a $44.00 target price on Nordstrom and gave the stock a “hold” rating in a report on Monday, November 13th. Robert W. Baird reiterated a “hold” rating and issued a $50.00 target price on shares of Nordstrom in a report on Wednesday, November 1st. Finally, Citigroup reiterated a “hold” rating and issued a $43.00 target price on shares of Nordstrom in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.08.

Shares of Nordstrom, Inc. (JWN) opened at $50.36 on Thursday. The company has a market capitalization of $8,390.00, a P/E ratio of 17.67, a PEG ratio of 2.57 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.30 and a debt-to-equity ratio of 3.14. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $53.00.

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Nordstrom 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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