Amalgamated Bank Sells 7,933 Shares of Nordstrom, Inc. (NYSE:JWN)

Amalgamated Bank reduced its holdings in Nordstrom, Inc. (NYSE:JWN) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,758 shares of the specialty retailer’s stock after selling 7,933 shares during the period. Amalgamated Bank’s holdings in Nordstrom were worth $1,311,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atlas Capital Advisors LLC grew its stake in shares of 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 acquiring an additional 752 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Nordstrom in the 1st quarter worth $30,000. Rothschild Investment LLC bought a new position in shares of Nordstrom during the 2nd quarter worth about $39,000. Blue Trust Inc. raised its position in shares of Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 2,411 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after buying an additional 659 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Stock Down 0.8 %

NYSE JWN opened at $22.46 on Friday. The stock’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $21.04. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $24.03. The firm has a market cap of $3.68 billion, a PE ratio of 12.27 and a beta of 2.61. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41.

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

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.38%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group increased their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” 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 report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and a consensus price target of $20.23.

Insiders Place Their Bets

In other news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.78% of the company’s stock.

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.