Traders Purchase High Volume of Nordstrom Put Options (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) was the target of unusually large options trading activity on Tuesday. Investors purchased 23,493 put options on the company. This represents an increase of approximately 29% compared to the average daily volume of 18,245 put options.

Institutional Investors Weigh In On Nordstrom

Several large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new stake in Nordstrom in the third quarter valued at approximately $300,000. Alpha Paradigm Partners LLC bought a new stake in Nordstrom in the third quarter valued at approximately $479,000. Balyasny Asset Management LLC increased its stake in Nordstrom by 71.0% in the third quarter. Balyasny Asset Management LLC now owns 2,162,440 shares of the specialty retailer’s stock valued at $36,178,000 after purchasing an additional 898,176 shares in the last quarter. Baird Financial Group Inc. increased its stake in Nordstrom by 105.0% in the third quarter. Baird Financial Group Inc. now owns 350,868 shares of the specialty retailer’s stock valued at $5,870,000 after purchasing an additional 179,729 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of Nordstrom by 254.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 929,281 shares of the specialty retailer’s stock valued at $15,547,000 after buying an additional 667,033 shares during the period. Institutional investors own 59.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JWN. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, November 14th. Citigroup decreased their target price on Nordstrom from $22.00 to $21.00 in a report on Wednesday, August 24th. Morgan Stanley cut their price target on Nordstrom from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 24th. Telsey Advisory Group decreased their price objective on shares of Nordstrom from $28.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, August 24th. Finally, Jefferies Financial Group raised shares of Nordstrom from a “hold” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $24.00 in a research note on Thursday, September 15th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.38.

Nordstrom Trading Up 6.5 %

JWN opened at $22.65 on Wednesday. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.01 and a quick ratio of 0.34. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.54 and a beta of 2.17. The firm has a 50 day simple moving average of $19.44 and a 200 day simple moving average of $21.54. Nordstrom has a fifty-two week low of $16.14 and a fifty-two week high of $32.38.

Nordstrom (NYSE:JWNGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. Nordstrom’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, sell-side analysts anticipate that Nordstrom will post 2.32 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.36%. The ex-dividend date is Monday, November 28th. Nordstrom’s payout ratio is presently 30.16%.

Nordstrom Company Profile

(Get Rating)

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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

Further Reading

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