Victory Capital Management Inc. Sells 3,012,035 Shares of Nordstrom, Inc. (NYSE:JWN)

Victory Capital Management Inc. reduced its holdings in Nordstrom, Inc. (NYSE:JWN) by 89.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 359,953 shares of the specialty retailer’s stock after selling 3,012,035 shares during the quarter. Victory Capital Management Inc. owned about 0.22% of Nordstrom worth $8,095,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its stake in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares in the last quarter. Atlas Capital Advisors LLC grew its holdings in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the period. State of Alaska Department of Revenue increased its stake in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 760 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Nordstrom by 0.5% during the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares during the period. Finally, CWM LLC boosted its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares in the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Price Performance

Nordstrom stock opened at $22.37 on Friday. The stock has a market cap of $3.67 billion, a P/E ratio of 13.01 and a beta of 2.59. Nordstrom, Inc. has a 52 week low of $13.68 and a 52 week high of $24.93. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The company’s 50 day moving average price is $22.76 and its two-hundred day moving average price is $22.11.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, equities analysts predict that Nordstrom, Inc. will post 1.91 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.40%. Nordstrom’s payout ratio is currently 44.44%.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JWN. Citigroup boosted their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen upped their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, BMO Capital Markets raised their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $20.58.

About Nordstrom

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.