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

Amalgamated Bank trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 28.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of JWN. Janney Montgomery Scott LLC increased its position in Nordstrom by 314.8% during the third quarter. Janney Montgomery Scott LLC now owns 55,316 shares of the specialty retailer’s stock valued at $1,244,000 after acquiring an additional 41,981 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Nordstrom by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after purchasing an additional 805 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Nordstrom by 1.7% in the third quarter. New York State Teachers Retirement System now owns 111,737 shares of the specialty retailer’s stock worth $2,513,000 after buying an additional 1,862 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Nordstrom by 6.3% during the third quarter. Nisa Investment Advisors LLC now owns 30,370 shares of the specialty retailer’s stock valued at $683,000 after buying an additional 1,800 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in Nordstrom during the third quarter valued at approximately $270,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.78% of the company’s stock.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $23.02 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 13.46 and a beta of 2.59. The firm has a fifty day moving average price of $22.73 and a 200 day moving average price of $22.00. Nordstrom, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $24.93. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

Nordstrom (NYSE:JWN) last released 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 net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Nordstrom, Inc. will post 1.88 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

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

Wall Street Analysts Forecast Growth

JWN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 28th. Bank of America lifted their target price on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group upped their price target on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. TD Cowen lifted their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.33.

Nordstrom 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.