Victory Capital Management Inc. Acquires 975,918 Shares of Nordstrom, Inc. (NYSE:JWN)

Victory Capital Management Inc. raised its stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 42.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,288,612 shares of the specialty retailer's stock after buying an additional 975,918 shares during the period. Victory Capital Management Inc. owned approximately 2.03% of Nordstrom worth $60,675,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of JWN. AE Wealth Management LLC acquired a new position in Nordstrom during the 3rd quarter valued at about $168,000. Commonwealth Equity Services LLC grew its stake in shares of Nordstrom by 14.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 217,449 shares of the specialty retailer's stock worth $3,249,000 after purchasing an additional 26,942 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Nordstrom by 3.5% in the 3rd quarter. New York State Teachers Retirement System now owns 129,235 shares of the specialty retailer's stock worth $1,931,000 after purchasing an additional 4,389 shares during the last quarter. Strs Ohio acquired a new position in shares of Nordstrom in the 3rd quarter worth approximately $718,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Nordstrom by 20.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,297 shares of the specialty retailer's stock worth $273,000 after purchasing an additional 3,099 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on JWN. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $19.00 price objective on shares of Nordstrom in a research note on Friday, April 19th. JPMorgan Chase & Co. lifted their price objective on shares of Nordstrom from $14.00 to $15.00 and gave the stock an "underweight" rating in a research note on Wednesday, March 6th. The Goldman Sachs Group lifted their target price on shares of Nordstrom from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 6th. StockNews.com raised shares of Nordstrom from a "hold" rating to a "buy" rating in a research report on Thursday, March 14th. Finally, Citigroup decreased their price target on shares of Nordstrom from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $16.54.

Nordstrom Stock Performance

Shares of NYSE JWN traded up $0.12 during trading hours on Friday, hitting $20.10. 2,401,514 shares of the stock were exchanged, compared to its average volume of 3,258,097. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The company's 50 day moving average is $19.11 and its 200 day moving average is $17.75. The firm has a market capitalization of $3.28 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.28 and a beta of 2.59. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53.

Nordstrom (NYSE:JWN - Get Free Report) last released its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.90 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analysts' expectations of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, research analysts expect that Nordstrom, Inc. will post 1.81 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.78%. The ex-dividend date was Monday, March 11th. Nordstrom's payout ratio is currently 95.00%.

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.