Investors Buy Large Volume of Put Options on Nordstrom (JWN)

Nordstrom, Inc. (NYSE:JWN) saw unusually large options trading on Thursday. Traders bought 10,126 put options on the company. This represents an increase of Infinity compared to the average volume of 0 put options.

Shares of Nordstrom (NYSE:JWN) opened at $38.72 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $6,669.00, a P/E ratio of 12.83, a P/E/G ratio of 2.26 and a beta of 0.84. Nordstrom has a twelve month low of $37.79 and a twelve month high of $62.82.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Nordstrom by 37.8% during the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after buying an additional 2,985,551 shares during the period. York Capital Management Global Advisors LLC purchased a new stake in Nordstrom during the second quarter worth $75,623,000. Principal Financial Group Inc. lifted its holdings in Nordstrom by 168.7% during the second quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock worth $87,584,000 after buying an additional 1,149,685 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Nordstrom by 1,155.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock worth $42,722,000 after buying an additional 822,038 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Nordstrom by 245.1% during the second quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock worth $50,919,000 after buying an additional 756,061 shares during the period. Hedge funds and other institutional investors own 62.35% of the company’s stock.

A number of research firms recently commented on JWN. Cowen and Company reiterated a “buy” rating and issued a $50.00 target price on shares of Nordstrom in a research report on Friday. Wolfe Research boosted their target price on Nordstrom from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. UBS AG decreased their target price on Nordstrom from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday. Robert W. Baird decreased their target price on Nordstrom from $50.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Bank of America Corporation decreased their target price on Nordstrom from $40.00 to $35.00 and set an “underperform” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the stock. Nordstrom has a consensus rating of “Hold” and an average target price of $45.33.

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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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