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

Nordstrom, Inc. (NYSE:JWN) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 10,720,000 shares, a decline of 5.7% from the October 31st total of 11,370,000 shares. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 11.3% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JWN. Atlas Capital Advisors LLC grew its stake in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the period. State of Alaska Department of Revenue grew its stake in Nordstrom by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 760 shares during the period. Stephens Inc. AR boosted its holdings in shares of Nordstrom by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares during the last quarter. CWM LLC boosted its holdings in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Telsey Advisory Group boosted their price objective on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. UBS Group upped their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a report on Wednesday, November 27th. BMO Capital Markets upped their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Citigroup upped their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Bank of America increased their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and an average target price of $21.29.

Nordstrom Trading Up 1.5 %

Shares of JWN opened at $23.05 on Tuesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $22.85 and a 200-day simple moving average of $22.26. Nordstrom has a 1-year low of $15.08 and a 1-year high of $24.99. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 14.68 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Equities analysts forecast that Nordstrom will post 1.93 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.30%. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

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.