Stock Traders Buy Large Volume of Call Options on Nordstrom (JWN)

Nordstrom, Inc. (NYSE:JWN) was the target of unusually large options trading activity on Friday. Stock investors bought 26,271 call options on the company. This represents an increase of Infinity compared to the average volume of 0 call options.

Several institutional investors have recently made changes to their positions in JWN. Bank of New York Mellon Corp grew its holdings in shares of Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after purchasing an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC bought a new stake in shares of Nordstrom during the 2nd quarter valued at approximately $75,623,000. Principal Financial Group Inc. grew its holdings in shares of Nordstrom by 168.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after purchasing an additional 1,149,685 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Nordstrom by 1,155.2% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after purchasing an additional 822,038 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Nordstrom by 245.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock valued at $50,919,000 after purchasing an additional 756,061 shares during the last quarter. 62.35% of the stock is currently owned by institutional investors.

Nordstrom (JWN) opened at $40.03 on Monday. The company has a market cap of $6,669.00, a P/E ratio of 12.83, a PEG ratio of 2.26 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. Nordstrom has a 12-month low of $37.79 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. sell-side analysts predict that Nordstrom will post 2.95 earnings per share for the current fiscal year.

JWN has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research report on Wednesday, November 8th. Robert W. Baird decreased their target price on shares of Nordstrom from $50.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday. Cowen and Company reaffirmed an “outperform” rating and issued a $53.00 target price (up previously from $49.00) on shares of Nordstrom in a research report on Wednesday, September 13th. KeyCorp set a $55.00 target price on shares of Nordstrom and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.50.

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About Nordstrom

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

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