Nordstrom, Inc. (NYSE:JWN) Short Interest Up 6.1% in October

Nordstrom, Inc. (NYSE:JWN) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 11,280,000 shares, a growth 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. Currently, 11.9% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms have recently issued reports on JWN. Bank of America lifted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. BMO Capital Markets raised their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, 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 note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.33.

Insiders Place Their Bets

In related news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after purchasing an additional 579,001 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Nordstrom by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after buying an additional 57,546 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Nordstrom by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after acquiring an additional 137,094 shares during the period. American Century Companies Inc. grew its stake in shares of Nordstrom by 66.2% during 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 acquiring an additional 661,769 shares during the period. Finally, Marshall Wace LLP increased its holdings in Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after acquiring an additional 410,152 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

JWN stock traded down $0.77 on Thursday, hitting $22.61. The company had a trading volume of 4,009,891 shares, compared to its average volume of 3,143,408. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.93. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 13.22 and a beta of 2.60. The stock’s 50-day simple moving average is $22.61 and its 200 day simple moving average is $21.72.

Nordstrom (NYSE:JWN) last released its quarterly 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 analysts’ expectations 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 prior year, the firm earned $0.84 EPS. As a group, equities research analysts expect that Nordstrom will post 1.89 earnings per share for the current fiscal 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 paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

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.