Traders Buy Large Volume of Call Options on Nike (NKE)
Nike, Inc. (NYSE:NKE) saw some unusual options trading on Friday. Stock traders acquired 12,554 call options on the company. This is an increase of approximately 135% compared to the typical volume of 5,346 call options.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the transaction, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. In the last three months, insiders sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Royal Bank of Scotland Group PLC raised its position in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after acquiring an additional 12,201 shares during the period. North Star Asset Management Inc. raised its position in shares of Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after acquiring an additional 4,129 shares during the period. Hartford Investment Management Co. raised its position in shares of Nike by 5.5% in the second quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock worth $21,283,000 after acquiring an additional 18,759 shares during the period. Fifth Third Bancorp raised its position in shares of Nike by 3.7% in the first quarter. Fifth Third Bancorp now owns 1,120,494 shares of the footwear maker’s stock worth $62,445,000 after acquiring an additional 39,554 shares during the period. Finally, Summit Global Investments acquired a new position in shares of Nike in the first quarter worth about $508,000. Institutional investors and hedge funds own 62.63% of the company’s stock.
A number of research firms have commented on NKE. Zacks Investment Research lowered Nike from a “hold” rating to a “sell” rating in a research report on Monday. Forward View lowered Nike from a “hold” rating to a “sell” rating in a research report on Friday. Piper Jaffray Companies lowered Nike from a “neutral” rating to an “underweight” rating in a research report on Wednesday, September 20th. Raymond James Financial, Inc. lowered their price target on Nike from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Tuesday, September 19th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $55.00 price target (down previously from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have assigned a buy rating to the stock. Nike presently has a consensus rating of “Hold” and a consensus target price of $60.04.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. Nike’s dividend payout ratio (DPR) is currently 28.69%.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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