Nordstrom, Inc. (JWN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,245,078 shares of the specialty retailer’s stock after purchasing an additional 1,078,880 shares during the period. Bank of New York Mellon Corp owned 6.15% of Nordstrom worth $485,413,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. San Francisco Sentry Investment Group CA grew its stake in Nordstrom by 1,752.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 2,190 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Nordstrom in the 4th quarter valued at approximately $115,000. Cerebellum GP LLC purchased a new position in Nordstrom in the 4th quarter valued at approximately $131,000. Calton & Associates Inc. purchased a new position in Nordstrom in the 4th quarter valued at approximately $153,000. Finally, Advisory Services Network LLC grew its stake in Nordstrom by 41.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after buying an additional 1,018 shares in the last quarter. Institutional investors own 57.86% of the company’s stock.

JWN has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Nordstrom from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Robert W. Baird reiterated a “hold” rating and issued a $50.00 price objective on shares of Nordstrom in a research note on Wednesday, November 1st. KeyCorp reiterated an “outperform” rating on shares of Nordstrom in a research note on Friday, November 10th. UBS Group reduced their price objective on shares of Nordstrom from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Finally, Citigroup reiterated a “hold” rating and issued a $43.00 price objective on shares of Nordstrom in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $48.08.

Nordstrom, Inc. (JWN) opened at $51.50 on Friday. The company has a market cap of $8,580.00, a price-to-earnings ratio of 18.07, a PEG ratio of 2.68 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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