Victory Capital Management Inc. Sells 215,260 Shares of Nordstrom, Inc. (NYSE:JWN)

Victory Capital Management Inc. lessened its position in Nordstrom, Inc. (NYSE:JWN - Free Report) by 59.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,693 shares of the specialty retailer's stock after selling 215,260 shares during the period. Victory Capital Management Inc. owned about 0.09% of Nordstrom worth $3,494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Quantinno Capital Management LP raised 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 worth $3,264,000 after acquiring an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $32,000,000 after purchasing an additional 208,193 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer's stock worth $8,744,000 after purchasing an additional 89,114 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer's stock valued at $1,342,000 after purchasing an additional 39,104 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Nordstrom by 160.9% during the third 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.

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Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Telsey Advisory Group restated a "market perform" rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Finally, Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an "in-line" rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $22.90.

Nordstrom Stock Performance

NYSE:JWN traded up $0.01 during mid-day trading on Thursday, hitting $24.30. 876,557 shares of the company traded hands, compared to its average volume of 2,505,476. The stock's fifty day moving average price is $24.26 and its 200-day moving average price is $23.48. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a one year low of $17.21 and a one year high of $24.99. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 15.48 and a beta of 2.60.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Research analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. Nordstrom's payout ratio is 44.19%.

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.