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

Nordstrom, Inc. (NYSE:JWN) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 11,290,000 shares, a drop of 13.6% from the August 31st total of 13,060,000 shares. Approximately 10.7% of the shares of the company are short sold. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is presently 4.8 days.

Nordstrom Stock Performance

JWN stock opened at $22.20 on Monday. Nordstrom has a twelve month low of $12.88 and a twelve month high of $24.03. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The company has a market cap of $3.63 billion, a P/E ratio of 12.13 and a beta of 2.61. The business’s fifty day moving average is $22.14 and its 200-day moving average is $21.10.

Nordstrom (NYSE:JWN) last released 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 for the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Equities research analysts forecast that Nordstrom will post 1.9 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Analyst Ratings Changes

JWN has been the topic of a number of research analyst reports. Telsey Advisory Group increased their price target on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. 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. JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. TD Cowen raised their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.23.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the 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 transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.78% of the stock is owned by company insiders.

Institutional Trading of Nordstrom

Several hedge funds have recently added to or reduced their stakes in JWN. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Nordstrom in the second quarter worth about $560,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Nordstrom during the 2nd quarter worth approximately $191,000. Sanctuary Advisors LLC acquired a new stake in Nordstrom during the 2nd quarter worth approximately $415,000. Algert Global LLC bought a new position in Nordstrom in the second quarter valued at approximately $210,000. Finally, Maverick Capital Ltd. boosted its holdings in shares of Nordstrom by 7.1% in the second quarter. Maverick Capital Ltd. now owns 118,834 shares of the specialty retailer’s stock valued at $2,522,000 after buying an additional 7,883 shares during the period. Institutional investors and hedge funds 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.