Nordstrom Sees Unusually High Options Volume (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN) saw unusually large options trading on Tuesday. Stock investors acquired 7,829 put options on the stock. This represents an increase of approximately 74% compared to the average volume of 4,489 put options.

Nordstrom Trading Down 2.4 %

NYSE:JWN opened at $21.14 on Wednesday. The stock’s 50 day moving average price is $21.91 and its 200 day moving average price is $20.66. The company has a market capitalization of $3.46 billion, a PE ratio of 11.55, a P/E/G ratio of 2.55 and a beta of 2.62. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. Nordstrom has a 52-week low of $12.88 and a 52-week high of $24.03.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, research analysts anticipate that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.60%. Nordstrom’s dividend payout ratio is presently 41.53%.

Institutional Trading of Nordstrom

A number of hedge funds have recently added to or reduced their stakes in JWN. Norges Bank acquired a new stake in Nordstrom during the 4th quarter worth approximately $23,572,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nordstrom by 64.0% in the 4th 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 shares of Nordstrom by 42.2% in the 4th 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 shares of Nordstrom by 44.9% in the 4th 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, American Century Companies Inc. lifted its holdings in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after buying an additional 661,769 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on JWN shares. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price objective on shares of Nordstrom in a report on Tuesday, August 20th. Barclays increased their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, May 31st. Finally, Bank of America increased their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, May 31st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.36.

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.