Short Interest in Nordstrom, Inc. (NYSE:JWN) Drops By 5.8%

Nordstrom, Inc. (NYSE:JWN) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 10,630,000 shares, a decrease of 5.8% from the September 15th total of 11,290,000 shares. Approximately 9.9% of the company’s stock are sold short. Based on an average daily trading volume, of 2,390,000 shares, the days-to-cover ratio is presently 4.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on JWN shares. Telsey Advisory Group raised their price target on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a 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. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.23.

Nordstrom Trading Up 1.5 %

Shares of NYSE:JWN traded up $0.36 during midday trading on Wednesday, hitting $24.44. 2,412,314 shares of the stock were exchanged, compared to its average volume of 3,210,716. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 13.34 and a beta of 2.60. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The business’s 50-day moving average price is $22.23 and its 200 day moving average price is $21.40. Nordstrom has a 12 month low of $12.88 and a 12 month high of $24.82.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.25. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. Analysts predict that Nordstrom will post 1.89 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio is currently 41.53%.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlas Capital Advisors LLC lifted 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 period. Register Financial Advisors LLC acquired a new position in Nordstrom in the first quarter valued at approximately $30,000. Rothschild Investment LLC acquired a new position in Nordstrom in the second quarter valued at approximately $39,000. Blue Trust Inc. lifted its stake in Nordstrom by 10,045.8% in 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 period. Finally, Hexagon Capital Partners LLC lifted its stake in 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 owned by institutional investors and hedge funds.

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.