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

Nordstrom, Inc. (NYSE:JWN) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 13,060,000 shares, a decrease of 6.8% from the August 15th total of 14,020,000 shares. Based on an average daily volume of 2,350,000 shares, the short-interest ratio is presently 5.6 days. Currently, 14.1% of the company’s stock are sold short.

Institutional Trading of Nordstrom

A number of hedge funds have recently modified their holdings of JWN. CANADA LIFE ASSURANCE Co increased its stake in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after purchasing an additional 520 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Nordstrom by 2.6% during the first quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock worth $485,000 after purchasing an additional 600 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Nordstrom by 5.7% during the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 636 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Nordstrom by 33.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 659 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

JWN has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Telsey Advisory Group boosted their price target on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. BMO Capital Markets raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $18.00 to $23.00 in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.23.

Nordstrom Stock Performance

Shares of JWN opened at $22.58 on Wednesday. Nordstrom has a one year low of $12.88 and a one year high of $24.03. The stock has a market cap of $3.70 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.38 and a beta of 2.61. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The stock has a 50-day moving average of $22.20 and a two-hundred day moving average of $20.87.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. As a group, research analysts predict that Nordstrom will post 1.9 EPS for the current year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s dividend payout ratio is currently 41.53%.

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.