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

Nordstrom, Inc. (NYSE:JWN) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 20,940,000 shares, a growth of 8.5% from the October 15th total of 19,300,000 shares. Based on an average daily volume of 4,800,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 21.5% of the shares of the company are short sold.

Analyst Ratings Changes

JWN has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Nordstrom in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Bank of America cut their price target on Nordstrom from $14.00 to $13.00 and set an “underperform” rating for the company in a report on Tuesday, September 26th. UBS Group decreased their price objective on Nordstrom from $12.00 to $11.00 and set a “sell” rating on the stock in a research note on Friday, August 25th. Barclays cut their price objective on Nordstrom from $15.00 to $14.00 in a research note on Sunday, August 27th. Finally, KeyCorp decreased their target price on shares of Nordstrom from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.75.

Nordstrom Price Performance

Shares of JWN stock traded up $0.64 during trading hours on Friday, hitting $15.09. The stock had a trading volume of 6,054,065 shares, compared to its average volume of 5,165,961. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.99 and a quick ratio of 0.43. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 80.31, a PEG ratio of 1.04 and a beta of 2.43. Nordstrom has a one year low of $12.88 and a one year high of $27.15. The stock’s 50-day moving average price is $14.26 and its two-hundred day moving average price is $16.97.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.39. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.68 billion. Nordstrom had a return on equity of 46.55% and a net margin of 0.21%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. Equities analysts forecast that Nordstrom will post 2.01 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, November 27th. This represents a $0.76 annualized dividend and a yield of 5.04%. Nordstrom’s dividend payout ratio (DPR) is currently 422.22%.

Insider Buying and Selling

In related news, insider Gemma Lionello sold 32,916 shares of Nordstrom stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $14.36, for a total value of $472,673.76. Following the completion of the sale, the insider now owns 39,973 shares of the company’s stock, valued at $574,012.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently made changes to their positions in JWN. Manchester Capital Management LLC bought a new position in shares of Nordstrom during the 1st quarter valued at approximately $28,000. Lazard Asset Management LLC bought a new position in Nordstrom during the second quarter valued at $29,000. Advisory Services Network LLC raised its stake in shares of Nordstrom by 315.9% in the first quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 1,889 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Nordstrom in the third quarter valued at $45,000. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Nordstrom by 194.2% in the 1st quarter. Dark Forest Capital Management LP now owns 3,195 shares of the specialty retailer’s stock worth $52,000 after acquiring an additional 2,109 shares during the last quarter. 62.56% of the stock is owned by hedge funds and other institutional investors.

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; and clearance stores under the Last Chance name.