Short Interest in Nordstrom, Inc. (NYSE:JWN) Decreases By 6.8%

Nordstrom, Inc. (NYSE:JWN) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 13,060,000 shares, a decline 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. Approximately 14.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have commented on JWN. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Bank of America increased their price target on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. Telsey Advisory Group lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Finally, 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.23.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new stake in shares of Nordstrom during the first quarter valued at $30,000. 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 in the last quarter. Rothschild Investment LLC purchased a new position in shares of Nordstrom during the second quarter worth approximately $39,000. Spire Wealth Management raised its stake in shares of Nordstrom by 100.0% during the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Nordstrom by 10,045.8% in the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $22.58 on Wednesday. The stock has a 50 day moving average price of $22.20 and a 200-day moving average price of $20.87. 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 price-to-earnings ratio of 12.34, a price-to-earnings-growth 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.

Nordstrom (NYSE:JWN) last announced its 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 business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Equities analysts expect that Nordstrom will post 1.9 EPS for the current year.

Nordstrom Dividend Announcement

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

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.