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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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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