Investors Buy High Volume of Put Options on Nordstrom (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) saw unusually large options trading on Tuesday. Stock traders acquired 23,493 put options on the company. This is an increase of approximately 29% compared to the average daily volume of 18,245 put options.

Nordstrom Stock Up 4.8 %

JWN traded up $1.02 during trading hours on Tuesday, hitting $22.29. 168,553 shares of the company’s stock were exchanged, compared to its average volume of 4,233,417. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 4.30. Nordstrom has a 12-month low of $16.14 and a 12-month high of $33.55. The firm has a market cap of $3.55 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.54 and a beta of 2.17. The firm has a 50 day moving average of $19.36 and a 200 day moving average of $21.56.

Nordstrom (NYSE:JWNGet Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Nordstrom had a return on equity of 70.36% and a net margin of 2.60%. During the same period last year, the firm earned $0.49 earnings per share. Analysts predict that Nordstrom will post 2.32 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.41%. Nordstrom’s payout ratio is 30.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Telsey Advisory Group decreased their target price on Nordstrom from $28.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, November 14th. Citigroup lowered their price objective on Nordstrom from $22.00 to $21.00 in a report on Wednesday, August 24th. Piper Sandler cut their price objective on Nordstrom from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, August 24th. Finally, StockNews.com assumed coverage on Nordstrom in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.38.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its holdings in shares of Nordstrom by 11.3% in the 1st quarter. Kestra Advisory Services LLC now owns 11,053 shares of the specialty retailer’s stock valued at $300,000 after purchasing an additional 1,125 shares in the last quarter. Comerica Bank raised its stake in Nordstrom by 3.6% in the first quarter. Comerica Bank now owns 57,305 shares of the specialty retailer’s stock valued at $1,647,000 after buying an additional 1,997 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in Nordstrom during the 1st quarter worth about $268,000. Mutual of America Capital Management LLC boosted its position in shares of Nordstrom by 2.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 101,705 shares of the specialty retailer’s stock worth $2,757,000 after acquiring an additional 2,191 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Nordstrom by 45.5% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 124,799 shares of the specialty retailer’s stock valued at $3,383,000 after acquiring an additional 39,013 shares during the last quarter. Hedge funds and other institutional investors own 59.36% of the company’s stock.

About Nordstrom

(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.

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