Nordstrom, Inc. (NYSE:JWN) Sees Significant Decrease in Short Interest

Nordstrom, Inc. (NYSE:JWN) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 8,030,000 shares, a drop of 5.6% from the January 15th total of 8,510,000 shares. Approximately 9.0% of the shares of the company are sold short. Based on an average daily trading volume, of 2,600,000 shares, the days-to-cover ratio is presently 3.1 days.

Nordstrom Stock Down 0.0 %

JWN opened at $24.33 on Wednesday. The business has a 50 day simple moving average of $24.04 and a 200-day simple moving average of $23.10. The stock has a market capitalization of $4.01 billion, a P/E ratio of 15.49 and a beta of 2.51. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently bought and sold shares of JWN. Venturi Wealth Management LLC raised its holdings in Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the last quarter. Spire Wealth Management increased its position in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after buying an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Nordstrom during the fourth quarter worth $63,000. Vestcor Inc purchased a new position in Nordstrom during the fourth quarter worth $63,000. Finally, Blue Trust Inc. increased its position in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after buying an additional 1,404 shares in the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of research reports. Citigroup raised their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. StockNews.com started coverage on Nordstrom in a research note on Wednesday. They issued a “buy” rating on the stock. Finally, Barclays lifted their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.17.

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.