Victory Capital Management Inc. Has $71.55 Million Stock Position in Nordstrom, Inc. (NYSE:JWN)

Victory Capital Management Inc. grew its position in Nordstrom, Inc. (NYSE:JWN) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,371,988 shares of the specialty retailer’s stock after purchasing an additional 57,546 shares during the period. Victory Capital Management Inc.’s holdings in Nordstrom were worth $71,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JWN. Norges Bank acquired a new stake in shares of Nordstrom during the fourth quarter worth approximately $23,572,000. Dimensional Fund Advisors LP boosted its holdings in shares of Nordstrom by 64.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after purchasing an additional 1,104,604 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Nordstrom by 44.9% during the fourth quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after purchasing an additional 820,390 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after purchasing an additional 579,001 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Nordstrom during the fourth quarter worth approximately $10,310,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JWN. Telsey Advisory Group raised their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Bank of America raised their price target on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. BMO Capital Markets lifted their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Nordstrom presently has an average rating of “Hold” and a consensus price target of $20.23.

Nordstrom Trading Up 1.0 %

NYSE:JWN opened at $22.82 on Friday. Nordstrom, Inc. has a 12 month low of $12.88 and a 12 month high of $24.03. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 2.41 and a beta of 2.61. The company has a quick ratio of 0.36, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The company’s 50 day moving average is $22.10 and its 200-day moving average is $20.80.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Nordstrom, Inc. will post 1.9 EPS for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s dividend payout ratio is 41.53%.

Nordstrom Company 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.