Amalgamated Bank Sells 17,292 Shares of Nordstrom, Inc. (NYSE:JWN)

Amalgamated Bank cut its position in shares of Nordstrom, Inc. (NYSE:JWN) by 28.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,466 shares of the specialty retailer’s stock after selling 17,292 shares during the quarter. Amalgamated Bank’s holdings in Nordstrom were worth $1,000,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Atlas Capital Advisors LLC boosted its stake 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 buying an additional 752 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Nordstrom in the 2nd quarter valued at $39,000. Blue Trust Inc. grew its holdings 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 purchasing an additional 2,411 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Nordstrom during the 2nd quarter valued at $71,000. Finally, CWM LLC raised its position in Nordstrom by 28.7% in 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 during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on JWN. The Goldman Sachs Group upped their price target on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Bank of America raised their price target on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Telsey Advisory Group boosted their price objective on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report 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, the company presently has a consensus rating of “Hold” and an average target price of $20.33.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.78% of the stock is currently owned by company insiders.

Nordstrom Price Performance

Shares of JWN stock opened at $23.02 on Friday. 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 stock has a market cap of $3.78 billion, a price-to-earnings ratio of 13.46 and a beta of 2.59. The business’s fifty day moving average is $22.73 and its 200 day moving average is $22.00. Nordstrom, Inc. has a twelve month low of $13.68 and a twelve month high of $24.93.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the business earned $0.84 EPS. Nordstrom’s quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts expect that Nordstrom, Inc. will post 1.88 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.30%. Nordstrom’s dividend payout ratio is currently 44.44%.

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.