Nike Inc (NKE) Short Interest Up 16.4% in November

Nike Inc (NYSE:NKE) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 42,361,406 shares, an increase of 16.4% from the November 15th total of 36,383,404 shares. Currently, 3.3% of the company’s shares are short sold. Based on an average daily volume of 9,427,971 shares, the short-interest ratio is presently 4.5 days.

Nike (NKE) traded up $0.07 during trading on Thursday, reaching $64.29. 5,097,696 shares of the company traded hands, compared to its average volume of 9,580,000. Nike has a 52-week low of $50.35 and a 52-week high of $65.18. The firm has a market capitalization of $104,890.00, a PE ratio of 27.83, a P/E/G ratio of 2.90 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same period last year, the business earned $0.50 earnings per share. Nike’s revenue was up 4.6% compared to the same quarter last year. research analysts anticipate that Nike will post 2.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were given a dividend of $0.20 per share. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, December 1st. Nike’s dividend payout ratio (DPR) is presently 34.63%.

Several research analysts recently commented on NKE shares. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective for the company in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and set a $57.00 price target on shares of Nike in a research note on Wednesday, December 13th. DA Davidson upped their price target on shares of Nike from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 price target on shares of Nike and gave the company a “buy” rating in a research note on Tuesday. Finally, Buckingham Research initiated coverage on shares of Nike in a research note on Saturday, January 6th. They set a “buy” rating and a $72.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $64.39.

In other news, COO Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the chief operating officer now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the completion of the sale, the executive vice president now directly owns 268,169 shares of the company’s stock, valued at approximately $16,918,782.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 967,896 shares of company stock valued at $60,257,267. 3.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fiduciary Trust Co. increased its position in shares of Nike by 4.9% during the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after purchasing an additional 23,450 shares during the period. Royal Bank of Scotland Group PLC boosted its stake 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 valued at $11,582,000 after purchasing an additional 12,201 shares during the period. Great Lakes Advisors LLC boosted its stake in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after purchasing an additional 4,030 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the period. Institutional investors and hedge funds own 62.67% 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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