Nordstrom, Inc. (NYSE:JWN) Sees Significant Growth in Short Interest

by · The Markets Daily

Nordstrom, Inc. (NYSE:JWN – Get Free Report) was the target of a large increase in short interest in the month of 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 short-interest ratio is currently 4.8 days. Approximately 11.9% of the company’s shares are short sold.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,928,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

Hedge funds have recently modified their holdings of the company. Atlas Capital Advisors LLC boosted its position 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 valued at $32,000 after acquiring an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Nordstrom during the second quarter valued at approximately $39,000. Blue Trust Inc. increased its stake in shares of Nordstrom by 10,045.8% in the 2nd 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. Hexagon Capital Partners LLC lifted its stake in shares of Nordstrom by 33.1% during the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 659 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Nordstrom in the second quarter valued at about $71,000. Institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group increased their target price on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Bank of America upped their price target on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.33.

Check Out Our Latest Stock Analysis on JWN

Nordstrom Stock Up 0.8 %

Shares of NYSE JWN traded up $0.18 during mid-day trading on Friday, reaching $22.79. The company had a trading volume of 73,948 shares, compared to its average volume of 3,128,939. The stock has a market capitalization of $3.74 billion, a PE ratio of 13.22 and a beta of 2.60. Nordstrom has a twelve month low of $12.88 and a twelve month high of $24.93. 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 stock’s 50 day moving average is $22.61 and its 200-day moving average is $21.72.

Nordstrom (NYSE:JWN – Get Free Report) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Nordstrom will post 1.89 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. Stockholders of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.33%. Nordstrom’s payout ratio is 44.44%.

Nordstrom Company Profile

(Get Free Report)

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.

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