Short Interest in Nordstrom, Inc. (NYSE:JWN) Decreases By 5.6%

Nordstrom, Inc. (NYSE:JWN - Get Free Report) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 8,030,000 shares, a decline 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 trading volume of 2,600,000 shares, the days-to-cover ratio is currently 3.1 days.

Nordstrom Price Performance

Shares of JWN traded down $0.03 during midday trading on Friday, hitting $24.33. The company's stock had a trading volume of 2,008,569 shares, compared to its average volume of 2,282,087. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a one year low of $16.78 and a one year high of $24.99. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. The company's fifty day simple moving average is $24.13 and its two-hundred day simple moving average is $23.14.

Nordstrom (NYSE:JWN - Get Free Report) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for 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%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, equities analysts expect that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently added to or reduced their stakes in JWN. Venturi Wealth Management LLC boosted its position in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock valued at $29,000 after buying an additional 993 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Nordstrom during the 4th quarter worth $63,000. Vestcor Inc bought a new stake in Nordstrom during the 4th quarter worth $63,000. Finally, Blue Trust Inc. increased its holdings in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer's stock worth $81,000 after purchasing an additional 1,404 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JWN has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Nordstrom in a research report on Wednesday. They set a "buy" rating on the stock. Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a report on Wednesday, November 27th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a research report on Monday, January 13th. Barclays increased their price target on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Citigroup lifted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $22.17.

About Nordstrom

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.