Nordstrom Sees Unusually Large Options Volume (JWN)

Nordstrom (NYSE:JWN) was the target of unusually large options trading on Thursday. Stock traders bought 6,033 put options on the company. This represents an increase of 1,728% compared to the typical daily volume of 330 put options.

In related news, CMO Scott A. Meden sold 10,186 shares of the stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $50.00, for a total transaction of $509,300.00. Following the sale, the chief marketing officer now directly owns 61,858 shares in the company, valued at approximately $3,092,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Scott A. Meden sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $49.02, for a total value of $490,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,428 shares of company stock worth $1,793,068. 7.05% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of JWN. Bank of New York Mellon Corp lifted its stake in shares of Nordstrom by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock valued at $485,413,000 after purchasing an additional 1,078,880 shares during the period. Millennium Management LLC raised its stake in Nordstrom by 301.9% during the 4th quarter. Millennium Management LLC now owns 1,272,685 shares of the specialty retailer’s stock worth $60,300,000 after buying an additional 955,994 shares during the period. Neuberger Berman Group LLC raised its stake in Nordstrom by 253.1% during the 1st quarter. Neuberger Berman Group LLC now owns 813,031 shares of the specialty retailer’s stock worth $39,359,000 after buying an additional 582,768 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in Nordstrom by 60.6% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,428,767 shares of the specialty retailer’s stock worth $67,695,000 after buying an additional 539,040 shares during the period. Finally, Schroder Investment Management Group raised its stake in Nordstrom by 97.6% during the 4th quarter. Schroder Investment Management Group now owns 1,036,341 shares of the specialty retailer’s stock worth $49,102,000 after buying an additional 511,905 shares during the period. 59.26% of the stock is currently owned by institutional investors.

A number of research firms recently commented on JWN. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday. ValuEngine downgraded Nordstrom from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Credit Suisse Group initiated coverage on Nordstrom in a report on Monday, March 12th. They set a “neutral” rating and a $54.00 price objective on the stock. TheStreet raised Nordstrom from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. Finally, BMO Capital Markets upped their price objective on Nordstrom from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, March 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.32.

Nordstrom opened at $50.91 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.45 and a current ratio of 1.07. The firm has a market capitalization of $8.57 billion, a PE ratio of 17.31, a P/E/G ratio of 2.49 and a beta of 0.82. Nordstrom has a twelve month low of $49.57 and a twelve month high of $51.56.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, May 17th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. Nordstrom had a return on equity of 60.72% and a net margin of 2.86%. During the same period in the prior year, the company posted $0.37 EPS. analysts expect that Nordstrom will post 3.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Friday, May 18th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 17th. Nordstrom’s dividend payout ratio (DPR) is currently 50.00%.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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