Victory Capital Management Inc. Reduces Stock Position in Nordstrom, Inc. (NYSE:JWN)

Victory Capital Management Inc. trimmed its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 89.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 359,953 shares of the specialty retailer’s stock after selling 3,012,035 shares during the quarter. Victory Capital Management Inc.’s holdings in Nordstrom were worth $8,095,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC raised its position in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the last quarter. Atlas Capital Advisors LLC grew its stake in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Nordstrom in the 2nd quarter worth about $39,000. Blue Trust Inc. raised its position in shares of Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Nordstrom in the 2nd quarter valued at about $71,000. Institutional investors own 88.73% of the company’s stock.

Nordstrom Trading Up 0.5 %

Shares of NYSE:JWN opened at $22.37 on Friday. The company has a market capitalization of $3.67 billion, a PE ratio of 13.01 and a beta of 2.59. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The business’s fifty day simple moving average is $22.76 and its 200-day simple moving average is $22.11. Nordstrom, Inc. has a 12-month low of $13.68 and a 12-month high of $24.93.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Nordstrom, Inc. will post 1.91 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.40%. Nordstrom’s payout ratio is 44.44%.

Wall Street Analyst Weigh In

JWN has been the topic of several analyst reports. BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Bank of America increased their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 28th. Finally, Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $20.58.

Insider Activity at Nordstrom

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

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.