Nordstrom, Inc. (NYSE:JWN) Short Interest Down 5.7% in August

Nordstrom, Inc. (NYSE:JWN) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totalling 14,020,000 shares, a decline of 5.7% from the July 31st total of 14,870,000 shares. Based on an average daily volume of 2,250,000 shares, the short-interest ratio is currently 6.2 days. Currently, 12.9% of the shares of the stock are short sold.

Nordstrom Trading Up 2.1 %

Shares of JWN opened at $22.82 on Wednesday. The firm has a fifty day simple moving average of $21.97 and a two-hundred day simple moving average of $20.72. Nordstrom has a twelve month low of $12.88 and a twelve month high of $24.03. The stock has a market capitalization of $3.73 billion, a P/E ratio of 12.47, a PEG ratio of 2.41 and a beta of 2.62. The company has a quick ratio of 0.36, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the company posted $0.84 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts anticipate 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 $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.33%. Nordstrom’s payout ratio is 41.53%.

Institutional Investors Weigh In On Nordstrom

Several hedge funds have recently bought and sold shares of the business. Register Financial Advisors LLC bought a new stake in shares of Nordstrom in the 1st quarter worth approximately $30,000. Atlas Capital Advisors LLC boosted its holdings in 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 acquiring an additional 752 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Nordstrom in the second quarter worth $39,000. Spire Wealth Management increased its holdings 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. raised its position in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America upped their target price on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Barclays raised their target price on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Telsey Advisory Group increased their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. TD Cowen upped their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $19.85.

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.