Short Interest in Nordstrom, Inc. (NYSE:JWN) Decreases By 8.2%

Nordstrom, Inc. (NYSE:JWN) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 15,520,000 shares, a decline of 8.2% from the June 15th total of 16,910,000 shares. Approximately 14.3% of the company’s stock are short sold. Based on an average daily volume of 2,680,000 shares, the short-interest ratio is presently 5.8 days.

Analysts Set New Price Targets

JWN has been the subject of a number of research analyst reports. Telsey Advisory Group boosted their target price on shares of Nordstrom from $19.00 to $23.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Barclays boosted their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. Bank of America boosted their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a research report on Friday, May 31st. Finally, Evercore ISI boosted their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.75.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently modified their holdings of JWN. Norges Bank acquired a new position in shares of Nordstrom during the fourth quarter worth approximately $23,572,000. Dimensional Fund Advisors LP lifted its holdings in Nordstrom by 64.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock valued at $52,212,000 after buying an additional 1,104,604 shares during the period. Victory Capital Management Inc. lifted its holdings in Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock valued at $60,675,000 after buying an additional 975,918 shares during the period. Schroder Investment Management Group lifted its holdings in Nordstrom by 44.9% in the fourth quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock valued at $48,867,000 after buying an additional 820,390 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after buying an additional 579,001 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Price Performance

NYSE:JWN traded up $0.97 on Tuesday, reaching $23.77. The stock had a trading volume of 3,075,062 shares, compared to its average volume of 3,622,715. The company has a market capitalization of $3.89 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 2.69 and a beta of 2.62. Nordstrom has a 1-year low of $12.88 and a 1-year high of $23.80. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The stock has a fifty day moving average price of $21.50 and a 200-day moving average price of $19.87.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. Nordstrom’s revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts forecast that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.20%. Nordstrom’s payout ratio is 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.