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

Nordstrom, Inc. (NYSE:JWN) saw unusually large options trading on Wednesday. Investors acquired 39,947 call options on the company. This is an increase of approximately 815% compared to the average daily volume of 4,366 call options.

JWN has been the subject of a number of analyst reports. ValuEngine cut Nordstrom from a “sell” rating to a “strong sell” rating in a research report on Monday, April 29th. Zacks Investment Research cut Nordstrom from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th. Robert W. Baird reduced their price target on Nordstrom from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Cowen cut their price objective on Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Finally, Citigroup cut their price objective on Nordstrom from $48.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.96.

In other Nordstrom news, insider Christine Deputy sold 4,812 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the completion of the sale, the insider now owns 60,056 shares of the company’s stock, valued at $1,957,225.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter E. Nordstrom sold 3,380 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $109,714.80. Following the completion of the sale, the insider now directly owns 2,530,989 shares of the company’s stock, valued at approximately $82,155,902.94. The disclosure for this sale can be found here. 5.21% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Piedmont Investment Advisors Inc. raised its holdings in Nordstrom by 2.7% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,476 shares of the specialty retailer’s stock valued at $465,000 after acquiring an additional 276 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Nordstrom by 6.0% in the 2nd quarter. GSA Capital Partners LLP now owns 6,524 shares of the specialty retailer’s stock valued at $208,000 after acquiring an additional 368 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Nordstrom by 8.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,965 shares of the specialty retailer’s stock valued at $220,000 after acquiring an additional 390 shares in the last quarter. Bailard Inc. raised its holdings in Nordstrom by 0.8% in the 1st quarter. Bailard Inc. now owns 59,397 shares of the specialty retailer’s stock valued at $2,636,000 after acquiring an additional 465 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Nordstrom by 2.8% in the 1st quarter. CIBC Asset Management Inc now owns 17,402 shares of the specialty retailer’s stock valued at $772,000 after acquiring an additional 475 shares in the last quarter. 64.11% of the stock is owned by hedge funds and other institutional investors.

NYSE JWN opened at $30.75 on Friday. Nordstrom has a twelve month low of $25.01 and a twelve month high of $67.75. The company has a debt-to-equity ratio of 6.34, a quick ratio of 0.24 and a current ratio of 0.76. The stock has a market capitalization of $4.04 billion, a PE ratio of 8.66, a P/E/G ratio of 1.33 and a beta of 0.66. The stock has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $37.55.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 EPS for the quarter, beating the consensus estimate of $0.76 by $0.14. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities research analysts forecast that Nordstrom will post 3.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.37 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.48 annualized dividend and a yield of 4.81%. Nordstrom’s dividend payout ratio (DPR) is 41.69%.

Nordstrom Company Profile

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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