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

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

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Several hedge funds have recently bought and sold shares of JWN. American Century Companies Inc. grew its position in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after acquiring an additional 661,769 shares in the last quarter. Vanguard Group Inc. increased its stake in Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after buying an additional 579,001 shares during the period. Marshall Wace LLP lifted its holdings in Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares in the last quarter. NewSquare Capital LLC acquired a new stake in Nordstrom during the 2nd quarter worth approximately $7,783,000. Finally, Axiom Advisory LLC boosted its position in Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after buying an additional 346,994 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Trading Down 3.3 %

JWN stock traded down $0.77 during mid-day trading on Thursday, hitting $22.61. 4,009,891 shares of the company were exchanged, compared to its average volume of 3,143,408. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.93. The firm has a market capitalization of $3.71 billion, a P/E ratio of 13.22 and a beta of 2.60. The business has a fifty day simple moving average of $22.61 and a 200-day simple moving average of $21.72. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. On average, equities research analysts predict that Nordstrom will post 1.89 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. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. Nordstrom’s dividend payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

JWN has been the subject of several research reports. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Bank of America boosted their price objective on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.33.

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.