Traders Sell Shares of Nike, Inc. (NKE) on Strength (NKE)
Investors sold shares of Nike, Inc. (NYSE:NKE) on strength during trading on Monday. $90.52 million flowed into the stock on the tick-up and $197.99 million flowed out of the stock on the tick-down, for a money net flow of $107.47 million out of the stock. Of all companies tracked, Nike had the 5th highest net out-flow for the day. Nike traded up $0.60 for the day and closed at $53.66
NKE has been the subject of several analyst reports. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $55.11 target price for the company. in a report on Monday, June 26th. UBS AG reissued a “buy” rating and issued a $62.00 target price (down from $63.00) on shares of Nike in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 target price on shares of Nike in a report on Wednesday, June 28th. Deutsche Bank AG increased their target price on shares of Nike from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. Finally, Telsey Advisory Group increased their target price on shares of Nike from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nike currently has a consensus rating of “Hold” and a consensus price target of $59.04.
The company has a market cap of $87.55 billion, a P/E ratio of 22.84 and a beta of 0.61. The stock’s 50-day moving average is $52.56 and its 200-day moving average is $54.69.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. Equities research analysts expect that Nike, Inc. will post $2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Thursday, August 31st. Nike’s dividend payout ratio is currently 30.64%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the transaction, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NKE. V Wealth Management LLC purchased a new position in shares of Nike in the 2nd quarter valued at about $100,000. Asset Planning Services Ltd. increased its holdings 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 valued at $126,000 after acquiring an additional 7 shares during the last quarter. Atlantic Trust LLC purchased a new position in shares of Nike in the 2nd quarter valued at about $136,000. Howe & Rusling Inc. increased its holdings 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 valued at $137,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Rational Advisors LLC increased its holdings in shares of Nike by 14.3% in the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after acquiring an additional 321 shares during the last quarter. Institutional investors and hedge funds own 62.55% of the company’s stock.
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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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