2 weeks Ago By ABMN Staff
Nordstrom, Inc. ( NYSE:JWN – Get Free Report ) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 11,290,000 shares, a decrease of 13.
6% from the August 31st total of 13,060,000 shares. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is currently 4.8 days.
Currently, 10.7% of the company’s stock are sold short. Insiders Place Their Bets In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th.
The shares were sold at an average price of $23.20, for a total value of $464,000.00.
Following the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link .
Company insiders own 5.78% of the company’s stock. Institutional Inflows and Outflows A number of institutional investors and hedge funds have recently made changes to their positions in JWN.
Norges Bank acquired a new position in shares of Nordstrom during the fourth quarter worth $23,572,000. Schroder Investment Management Group increased its holdings in Nordstrom by 44.9% in the 4th quarter.
Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after purchasing an additional 820,390 shares in the last quarter. American Century Companies Inc. raised its position in Nordstrom by 66.
2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares during the last quarter.
Vanguard Group Inc. boosted its stake in shares of Nordstrom by 5.7% during the first quarter.
Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after purchasing an additional 579,001 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Nordstrom by 38.
4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares in the last quarter. Institutional investors own 88.
73% of the company’s stock. Nordstrom Trading Down 1.2 % Nordstrom ( NYSE:JWN – Get Free Report ) last released its earnings results on Tuesday, August 27th.
The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.
25. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.
88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.
44%. The company’s revenue was up 3.2% compared to the same quarter last year.
During the same period in the prior year, the company posted $0.84 EPS. As a group, analysts predict that Nordstrom will post 1.
9 earnings per share for the current year. Nordstrom Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.
19 dividend. This represents a $0.76 annualized dividend and a yield of 3.
42%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 41.
53%. Wall Street Analysts Forecast Growth JWN has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price target on Nordstrom from $19.
00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co.
upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th.
Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th.
Bank of America raised their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th.
Finally, BMO Capital Markets raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th.
Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.
23. View Our Latest Stock Analysis on Nordstrom About Nordstrom ( Get Free Report ) 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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