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

Nordstrom, Inc. (NYSE:JWN) was the recipient of a significant decline in short interest in 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. Currently, 11.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,300,000 shares, the short-interest ratio is currently 4.7 days.

Nordstrom Stock Up 1.4 %

JWN opened at $23.19 on Wednesday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 14.77 and a beta of 2.56. Nordstrom has a 12 month low of $15.08 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business has a 50-day moving average of $22.85 and a two-hundred day moving average of $22.28.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, research analysts expect that Nordstrom will post 1.93 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.28%. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JWN shares. Citigroup lifted their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $18.00 to $23.00 in a report on Thursday, September 5th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. BMO Capital Markets increased their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group boosted their price target on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.29.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom 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 directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.78% of the stock is owned by insiders.

Institutional Trading of Nordstrom

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in Nordstrom by 1.7% during the second 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 lifted its holdings 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 in the last quarter. American Century Companies Inc. boosted its position in Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the period. Geode Capital Management LLC raised its position in Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after purchasing an additional 5,407 shares during the period. Finally, Marshall Wace LLP boosted its position 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 worth $31,393,000 after buying an additional 410,152 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.