Investors Buy Large Volume of Nordstrom Call Options (JWN)

Nordstrom, Inc. (NYSE:JWN) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 10,529 call options on the stock. This is an increase of 1,522% compared to the typical daily volume of 649 call options.

Several analysts have issued reports on JWN shares. Wedbush raised shares of Nordstrom from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $75.00 in a research report on Tuesday, October 30th. Zacks Investment Research lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. Guggenheim reaffirmed a “hold” rating on shares of Nordstrom in a research report on Thursday, November 15th. ValuEngine raised shares of Nordstrom from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Deutsche Bank dropped their price objective on shares of Nordstrom from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Nordstrom currently has a consensus rating of “Hold” and an average price target of $58.90.

Shares of Nordstrom stock opened at $47.30 on Friday. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.17 and a beta of 0.66. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.44 and a current ratio of 1.12. Nordstrom has a 12-month low of $43.70 and a 12-month high of $67.75.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.68 billion. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%. On average, analysts predict that Nordstrom will post 3.6 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio boosted its stake in shares of Nordstrom by 237.3% in the 2nd quarter. Strs Ohio now owns 5,211 shares of the specialty retailer’s stock valued at $269,000 after purchasing an additional 3,666 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nordstrom by 31.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 42,062 shares of the specialty retailer’s stock valued at $2,191,000 after purchasing an additional 10,184 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Nordstrom by 64.2% in the 2nd quarter. Janus Henderson Group PLC now owns 60,434 shares of the specialty retailer’s stock valued at $3,130,000 after purchasing an additional 23,627 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nordstrom by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 878,679 shares of the specialty retailer’s stock valued at $45,502,000 after purchasing an additional 121,553 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Nordstrom by 17.0% in the 2nd quarter. FMR LLC now owns 159,782 shares of the specialty retailer’s stock valued at $8,273,000 after purchasing an additional 23,175 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

WARNING: This piece of content was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2019/01/11/investors-buy-large-volume-of-nordstrom-call-options-jwn.html.

About Nordstrom

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.

Featured Story: Stock Symbol

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply