Nordstrom, Inc. (NYSE:JWN) Position Boosted by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. increased its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,192 shares of the specialty retailer’s stock after buying an additional 397 shares during the period. Sumitomo Life Insurance Co.’s holdings in Nordstrom were worth $487,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. DnB Asset Management AS acquired a new position in shares of Nordstrom during the first quarter valued at about $520,000. Cribstone Capital Management LLC increased its position in shares of Nordstrom by 2,530.2% in the first quarter. Cribstone Capital Management LLC now owns 7,233 shares of the specialty retailer’s stock valued at $322,000 after buying an additional 6,958 shares during the last quarter. Merriman Wealth Management LLC increased its position in shares of Nordstrom by 5.4% in the first quarter. Merriman Wealth Management LLC now owns 5,922 shares of the specialty retailer’s stock valued at $276,000 after buying an additional 304 shares during the last quarter. Cutler Group LP increased its position in shares of Nordstrom by 5,147.8% in the first quarter. Cutler Group LP now owns 5,930 shares of the specialty retailer’s stock valued at $276,000 after buying an additional 5,817 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Nordstrom by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 43,475 shares of the specialty retailer’s stock valued at $2,024,000 after buying an additional 400 shares during the last quarter. 64.22% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom, Inc. (NYSE JWN) opened at 46.49 on Thursday. Nordstrom, Inc. has a 52 week low of $39.05 and a 52 week high of $62.82. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 21.76 and a beta of 0.83. The stock’s 50 day moving average price is $47.44 and its 200-day moving average price is $45.41.

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A number of equities research analysts have recently weighed in on JWN shares. Robert W. Baird set a $50.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. BMO Capital Markets set a $48.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. UBS AG restated a “buy” rating and set a $51.00 target price on shares of Nordstrom in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co restated an “underweight” rating and set a $48.00 target price on shares of Nordstrom in a research report on Friday, July 14th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.23.

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.