Victory Capital Management Inc. Lowers Holdings in Nordstrom, Inc. (NYSE:JWN)

Victory Capital Management Inc. decreased its holdings in Nordstrom, Inc. (NYSE:JWN) by 59.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,693 shares of the specialty retailer’s stock after selling 215,260 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Nordstrom worth $3,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its holdings in Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after buying an additional 47,923 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the period. JPMorgan Chase & Co. grew its holdings in Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares during the period. Point72 Asset Management L.P. grew its holdings in Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 39,104 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after purchasing an additional 31,498 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JWN shares. Citigroup lifted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Evercore ISI lifted their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. StockNews.com started coverage on Nordstrom in a research note on Saturday. They issued a “buy” rating on the stock. Finally, Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.90.

Nordstrom Stock Performance

Nordstrom stock opened at $24.21 on Monday. The stock’s 50 day moving average price is $24.25 and its 200 day moving average price is $23.44. The firm has a market capitalization of $3.99 billion, a PE ratio of 15.42 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom, Inc. has a one year low of $16.79 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. As a group, sell-side analysts expect that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, March 11th. Nordstrom’s payout ratio is 44.19%.

Nordstrom Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.