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

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

Insider Buying and Selling

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 transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently made changes to their positions in JWN. American Century Companies Inc. increased its holdings 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 purchasing an additional 661,769 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Nordstrom by 5.7% in the first 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 grew its stake in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after buying an additional 410,152 shares in the last quarter. NewSquare Capital LLC purchased a new stake in shares of Nordstrom during the 2nd quarter valued at about $7,783,000. Finally, Axiom Advisory LLC lifted its position in Nordstrom by 46.0% during the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after acquiring an additional 346,994 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $24.44 on Thursday. The business’s fifty day moving average price is $22.30 and its 200 day moving average price is $21.42. Nordstrom has a twelve month low of $12.88 and a twelve month high of $24.82. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $4.00 billion, a P/E ratio of 13.35 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its quarterly earnings data 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 business 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 revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. As a group, research analysts anticipate that Nordstrom will post 1.89 earnings per share for the current year.

Nordstrom Dividend Announcement

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

Analyst Upgrades and Downgrades

JWN has been the subject of a number of recent research reports. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen upped their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, Bank of America increased their price target on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.23.

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.