Amalgamated Bank Acquires 617 Shares of Nordstrom, Inc. (NYSE:JWN)

Amalgamated Bank boosted its holdings in Nordstrom, Inc. (NYSE:JWN) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,083 shares of the specialty retailer’s stock after acquiring an additional 617 shares during the period. Amalgamated Bank’s holdings in Nordstrom were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new position in shares of Nordstrom in the fourth quarter valued at about $56,026,000. Verition Fund Management LLC grew its stake in Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after buying an additional 725,803 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Nordstrom in the 3rd quarter valued at about $6,171,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after acquiring an additional 208,193 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $24.26 on Tuesday. The company has a 50 day moving average of $24.22 and a 200-day moving average of $23.28. The company has a market cap of $4.00 billion, a PE ratio of 15.45 and a beta of 2.51. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 1-year low of $16.78 and a 1-year high of $24.99.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, March 11th. Nordstrom’s dividend payout ratio is presently 48.41%.

Wall Street Analysts Forecast Growth

JWN has been the subject of several research reports. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a report on Tuesday, February 25th. Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Citigroup lifted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus target price of $22.17.

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.