What Next for Nordstrom, Inc. Stock After Today’s Bearish Options Activity?

 What Next for Nordstrom, Inc. Stock After Today's Bearish Options Activity?

In today’s session Nordstrom, Inc. (JWN) recorded an unusually high (4,378) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious JWN decrease. With 4,378 contracts traded and 15584 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: JWN161118P00050000 closed last at: $1.65 or 13.8% up. About 493,492 shares traded hands. Nordstrom, Inc. (NYSE:JWN) has declined 9.57% since March 30, 2016 and is downtrending. It has underperformed by 12.58% the S&P500.

Analysts await Nordstrom, Inc. (NYSE:JWN) to report earnings on November, 10. They expect $0.51 EPS, down 10.53% or $0.06 from last year’s $0.57 per share. JWN’s profit will be $87.30M for 25.51 P/E if the $0.51 EPS becomes a reality. After $0.67 actual EPS reported by Nordstrom, Inc. for the previous quarter, Wall Street now forecasts -23.88% negative EPS growth.

Nordstrom, Inc. (NYSE:JWN) Ratings Coverage

Out of 21 analysts covering Nordstrom Inc. (NYSE:JWN), 7 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 33% are positive. $92 is the highest target while $34 is the lowest. The $52.63 average target is 1.11% above today’s ($52.05) stock price. Nordstrom Inc. has been the topic of 60 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock of Nordstrom, Inc. (NYSE:JWN) has “Buy” rating given on Thursday, June 16 by Maxim Group. The firm has “Buy” rating given on Tuesday, November 10 by Guggenheim. The stock has “Buy” rating given by UBS on Tuesday, November 17. The rating was maintained by Credit Suisse on Monday, October 12 with “Neutral”. The stock of Nordstrom, Inc. (NYSE:JWN) earned “Hold” rating by Brean Capital on Friday, August 14. The firm has “Neutral” rating given on Monday, May 16 by Northcoast. The firm earned “Neutral” rating on Friday, August 14 by Macquarie Research. Citigroup maintained the stock with “Neutral” rating in Friday, August 12 report. JP Morgan maintained Nordstrom, Inc. (NYSE:JWN) rating on Friday, April 8. JP Morgan has “Neutral” rating and $47 price target. PiperJaffray upgraded Nordstrom, Inc. (NYSE:JWN) on Tuesday, July 26 to “Overweight” rating.

According to Zacks Investment Research, “Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with stores located in a number of states, including full-line stores, Nordstrom Racks, Faconnable boutiques, and free-standing shoe stores. Nordstrom also operates Faconnable boutiques throughout Europe. Additionally, Nordstrom serves customers through its online presence and through its direct mail catalogs. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 1.06 in Q2 2016. Its up 0.09, from 0.97 in 2016Q1. The ratio increased, as 85 funds sold all Nordstrom, Inc. shares owned while 148 reduced positions. 66 funds bought stakes while 180 increased positions. They now own 105.26 million shares or 3.95% less from 109.60 million shares in 2016Q1.
Clean Yield Group Inc reported 410 shares or 0.01% of all its holdings. Verition Fund Management has invested 0.06% of its portfolio in Nordstrom, Inc. (NYSE:JWN). Moreover, Madison Investment Holdings has 0.15% invested in Nordstrom, Inc. (NYSE:JWN) for 188,150 shares. Wolverine Asset Mgmt Limited Liability Co holds 0.01% or 8,736 shares in its portfolio. Moreover, Ubs Asset Mgmt Americas has 0.04% invested in Nordstrom, Inc. (NYSE:JWN) for 839,154 shares. Moreover, Associated Banc has 0.08% invested in Nordstrom, Inc. (NYSE:JWN) for 31,492 shares. Smead Cap Mgmt Incorporated holds 1.75% of its portfolio in Nordstrom, Inc. (NYSE:JWN) for 981,608 shares. The Pennsylvania-based Glenmede Tru Na has invested 0.03% in Nordstrom, Inc. (NYSE:JWN). The Switzerland-based Credit Suisse Ag has invested 0.01% in Nordstrom, Inc. (NYSE:JWN). Evercore Wealth Management Ltd Llc owns 2,779 shares or 0% of their US portfolio. British Columbia Inv Management last reported 0.01% of its portfolio in the stock. First Allied Advisory Inc, a Missouri-based fund reported 16,660 shares. Sg Americas Securities Ltd Llc accumulated 19,981 shares or 0.01% of the stock. Umb Commercial Bank N A Mo holds 96,743 shares or 0.15% of its portfolio. Gamble Jones Invest Counsel accumulated 14,381 shares or 0.06% of the stock.

Insider Transactions: Since September 23, 2016, the stock had 0 insider buys, and 4 sales for $1.53 million net activity. LITTLE DANIEL F had sold 5,277 shares worth $290,235.

Nordstrom, Inc. is a fashion specialty retailer in the United States. The company has a market cap of $8.91 billion. The firm operates through two divisions: Retail and Credit. It has a 22.15 P/E ratio. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

JWN Company Profile

Nordstrom, Inc., incorporated on October 28, 1946, is a fashion specialty retailer in the United States. The Company’s divisions include Retail, Credit and Corporate/Other. The Firm operates approximately 320 United States stores located in over 40 states, as well as an e-commerce business through Nordstrom.com, Nordstromrack.com/HauteLook and TrunkClub.com. It also operates approximately three Nordstrom full-line stores in Canada. In addition, the Company offers its clients a Nordstrom Rewards loyalty program along with a range of payment services and products, including credit and debit cards.

More recent Nordstrom, Inc. (NYSE:JWN) news were published by: Prnewswire.com which released: “Nordstrom Rack To Open In Shenandoah, Tex.” on October 18, 2016. Also Reuters.com published the news titled: “Nordstrom to hire fewer temporary employees for holiday season” on October 24, 2016. Forbes.com‘s news article titled: “Nordstrom Becomes #7 Most Shorted S&P 500 Component, Replacing Harley-Davidson” with publication date: October 13, 2016 was also an interesting one.

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