Nike, Inc. (NKE) Sees Significant Growth in Short Interest

Nike, Inc. (NYSE:NKE) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 32,898,631 shares, a growth of 24.4% from the October 13th total of 26,451,055 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 13,503,064 shares, the short-interest ratio is currently 2.4 days.

NKE has been the topic of several research analyst reports. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Citigroup restated a “buy” rating and set a $65.00 price target (down from $67.00) on shares of Nike in a report on Wednesday, September 27th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price objective (down previously from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $57.75 price objective for the company. in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nineteen have issued a buy rating to the company’s stock. Nike presently has an average rating of “Hold” and an average target price of $59.01.

Shares of Nike (NKE) traded up $0.22 during midday trading on Monday, reaching $60.10. 7,513,230 shares of the company traded hands, compared to its average volume of 9,589,526. Nike has a fifty-two week low of $50.26 and a fifty-two week high of $61.21. The firm has a market capitalization of $98,050.00, a price-to-earnings ratio of 25.48, a P/E/G ratio of 2.81 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. equities research analysts anticipate that Nike will post 2.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.33%. Nike’s dividend payout ratio (DPR) is 30.77%.

In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated 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 owns 25,660 shares of the company’s stock, valued at $1,371,527. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Janus Henderson Group PLC increased its position in shares of Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares in the last quarter. Capital World Investors lifted its stake in Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the last quarter. Harding Loevner LP lifted its stake in Nike by 97.1% in the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after acquiring an additional 5,987,728 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Nike by 7,020.1% during the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in shares of Nike during the 2nd quarter worth about $226,588,000. Institutional investors own 62.78% of the company’s stock.

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About Nike

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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