Nordstrom, Inc. (NYSE:JWN) Short Interest Update

Nordstrom, Inc. (NYSE:JWN) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 11,280,000 shares, a growth of 6.1% from the September 30th total of 10,630,000 shares. Currently, 11.9% of the company’s stock are sold short. Based on an average trading volume of 2,330,000 shares, the short-interest ratio is presently 4.8 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Bank of America boosted their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, TD Cowen raised their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.33.

Nordstrom Stock Performance

JWN stock traded down $0.77 during trading on Thursday, hitting $22.61. 4,009,891 shares of the company traded hands, compared to its average volume of 3,143,408. 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 has a 1 year low of $12.88 and a 1 year high of $24.93. The stock’s 50-day simple moving average is $22.61 and its 200 day simple moving average is $21.72. The company has a market cap of $3.71 billion, a PE ratio of 13.22 and a beta of 2.60.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. On average, equities analysts expect that Nordstrom will post 1.89 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued 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 yield of 3.36%. Nordstrom’s payout ratio is 44.44%.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom 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 transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently bought and sold shares of the business. Atlas Capital Advisors LLC raised its stake in shares of Nordstrom by 101.8% during the 2nd 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 during the period. Rothschild Investment LLC acquired a new position in Nordstrom during the second quarter worth $39,000. Blue Trust Inc. raised its position in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after acquiring an additional 2,411 shares during the period. Hexagon Capital Partners LLC grew its position 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 purchasing an additional 659 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Nordstrom during the second quarter worth about $71,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.