Nordstrom, Inc. (NYSE:JWN – Get Free Report) 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 – Get Free Report) 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
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.
View Our Latest Stock Report on Nordstrom
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.
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