Nordstrom, Inc. (NYSE:JWN) Sees Significant Increase in Short Interest
Nordstrom, Inc. (NYSE:JWN) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 28,321,500 shares, a growth of 18.0% from the June 30th total of 23,998,000 shares. Based on an average trading volume of 4,280,000 shares, the short-interest ratio is currently 6.6 days. Currently, 24.7% of the company’s shares are sold short.
A number of research firms have issued reports on JWN. Wedbush restated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Nordstrom in a report on Wednesday, May 22nd. Robert W. Baird cut their price target on Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. KeyCorp cut their price target on Nordstrom from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Piper Jaffray Companies cut their price target on Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Deutsche Bank cut their target price on Nordstrom from $47.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, May 22nd. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.11.
In other Nordstrom news, insider Christine Deputy sold 4,812 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total transaction of $156,823.08. Following the transaction, the insider now directly owns 60,056 shares in the company, valued at approximately $1,957,225.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter E. Nordstrom sold 3,380 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $109,714.80. Following the transaction, the insider now owns 2,530,989 shares in the company, valued at $82,155,902.94. The disclosure for this sale can be found here. Corporate insiders own 5.21% of the company’s stock.
Shares of JWN traded up $0.51 during trading hours on Tuesday, reaching $29.12. The stock had a trading volume of 4,236,691 shares, compared to its average volume of 3,592,268. Nordstrom has a 12 month low of $28.02 and a 12 month high of $67.75. The stock’s 50-day moving average is $30.76. The company has a debt-to-equity ratio of 6.34, a current ratio of 0.76 and a quick ratio of 0.24. The firm has a market cap of $4.57 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.47 and a beta of 0.66.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. During the same period in the previous year, the company posted $0.51 earnings per share. Sell-side analysts expect that Nordstrom will post 3.31 earnings per share for the current fiscal year.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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