Investors Buy Large Volume of Nordstrom Put Options (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN) saw unusually large options trading on Tuesday. Investors acquired 15,177 put options on the stock. This is an increase of approximately 800% compared to the average daily volume of 1,687 put options.

In related news, insider Christine Deputy sold 1,906 shares of Nordstrom stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $28.53, for a total value of $54,378.18. Following the completion of the sale, the insider now owns 56,913 shares of the company’s stock, valued at approximately $1,623,727.89. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 5.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of JWN. Knuff & Co LLC bought a new stake in shares of Nordstrom during the 3rd quarter valued at about $27,000. Capital Investment Advisory Services LLC bought a new stake in shares of Nordstrom during the 2nd quarter valued at about $29,000. Edge Wealth Management LLC boosted its position in shares of Nordstrom by 100.0% during the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Resources Investment Advisors LLC. bought a new stake in shares of Nordstrom during the 2nd quarter valued at about $35,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Nordstrom during the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 64.54% of the company’s stock.

Shares of NYSE JWN opened at $37.18 on Thursday. Nordstrom has a 52 week low of $25.01 and a 52 week high of $65.24. The business has a 50-day simple moving average of $34.99 and a two-hundred day simple moving average of $33.09. The company has a quick ratio of 0.35, a current ratio of 0.79 and a debt-to-equity ratio of 5.39. The company has a market cap of $5.68 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.83 and a beta of 0.73.

Nordstrom (NYSE:JWN) last issued its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 EPS for the quarter, topping the consensus estimate of $0.76 by $0.14. Nordstrom had a return on equity of 62.11% and a net margin of 3.17%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts anticipate that Nordstrom will post 3.34 EPS for the current year.

Several brokerages recently weighed in on JWN. Telsey Advisory Group decreased their price objective on Nordstrom from $35.00 to $32.00 and set a “market perform” rating for the company in a report on Thursday, August 22nd. Barclays began coverage on Nordstrom in a report on Tuesday. They issued an “equal weight” rating and a $36.00 price objective for the company. Guggenheim reissued a “hold” rating on shares of Nordstrom in a report on Tuesday, October 22nd. UBS Group lowered Nordstrom from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Wednesday, October 30th. Finally, KeyCorp decreased their price objective on Nordstrom from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. Nordstrom currently has a consensus rating of “Hold” and an average target price of $38.51.

About Nordstrom

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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