Traders Sell Nike (NKE) on Strength (NKE)
Investors sold shares of Nike Inc (NYSE:NKE) on strength during trading hours on Monday. $68.55 million flowed into the stock on the tick-up and $109.57 million flowed out of the stock on the tick-down, for a money net flow of $41.02 million out of the stock. Of all companies tracked, Nike had the 0th highest net out-flow for the day. Nike traded up $0.61 for the day and closed at $61.91
A number of analysts recently weighed in on NKE shares. Morgan Stanley reaffirmed a “buy” rating and set a $64.00 target price (down previously from $68.00) on shares of Nike in a report on Tuesday, August 29th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price on the stock in a report on Wednesday, September 6th. Telsey Advisory Group decreased their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $55.00 target price (down previously from $56.00) on shares of Nike in a report on Tuesday, September 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Nike in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.01.
The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The company has a market cap of $101,007.22, a price-to-earnings ratio of 26.34, a P/E/G ratio of 2.90 and a beta of 0.64.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. equities analysts forecast that Nike Inc will post 2.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 34.04%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NKE. Willingdon Wealth Management purchased a new stake in shares of Nike in the 3rd quarter worth about $114,000. Asset Planning Services Ltd. lifted its position in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Atlantic Trust LLC purchased a new stake in shares of Nike in the 2nd quarter worth about $136,000. Howe & Rusling Inc. lifted its position in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the period. Finally, Kistler Tiffany Companies LLC lifted its position in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the period. 62.78% of the stock is owned by institutional investors and hedge funds.
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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