M&T Bank Corp lowered its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 84.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 34,526 shares of the specialty retailer’s stock after selling 189,427 shares during the period. M&T Bank Corp’s holdings in Nordstrom were worth $1,609,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of JWN. Skandinaviska Enskilda Banken AB publ boosted its stake in Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the specialty retailer’s stock valued at $141,701,000 after buying an additional 2,718,233 shares during the last quarter. Norges Bank bought a new stake in shares of Nordstrom during the fourth quarter worth approximately $108,878,000. Bank of New York Mellon Corp boosted its stake in shares of Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock worth $367,753,000 after buying an additional 1,364,328 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of Nordstrom by 1,512.0% in the fourth quarter. Fiera Capital Corp now owns 792,032 shares of the specialty retailer’s stock worth $37,962,000 after buying an additional 742,899 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Nordstrom during the first quarter worth approximately $25,172,000. 66.03% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

Shares of Nordstrom, Inc. (JWN) traded down 1.51% during midday trading on Wednesday, reaching $41.80. 3,167,111 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $45.52 and its 200 day moving average is $47.50. The firm has a market cap of $6.94 billion, a PE ratio of 19.57 and a beta of 1.01. Nordstrom, Inc. has a one year low of $35.01 and a one year high of $62.82.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 26th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.54%. Nordstrom’s payout ratio is currently 79.14%.

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A number of analysts have recently commented on the company. BMO Capital Markets set a $48.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, May 13th. Vetr cut Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 price target on the stock. in a research report on Monday. Finally, Royal Bank of Canada set a $47.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Saturday, February 25th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Nordstrom has an average rating of “Hold” and an average target price of $47.10.

In other news, President Blake W. Nordstrom sold 1,905 shares of Nordstrom stock in a transaction on Monday, March 6th. The shares were sold at an average price of $45.08, for a total transaction of $85,877.40. Following the completion of the sale, the president now directly owns 2,142,492 shares in the company, valued at $96,583,539.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel F. Little sold 7,423 shares of Nordstrom stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $47.01, for a total transaction of $348,955.23. Following the sale, the insider now owns 76,371 shares of the company’s stock, valued at $3,590,200.71. The disclosure for this sale can be found here. Insiders have sold 17,775 shares of company stock valued at $814,005 over the last quarter. Insiders own 7.03% of the company’s stock.

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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