Traders Sell Nike (NKE) on Strength (NKE)

Traders sold shares of Nike Inc (NYSE:NKE) on strength during trading hours on Tuesday. $59.24 million flowed into the stock on the tick-up and $130.01 million flowed out of the stock on the tick-down, for a money net flow of $70.77 million out of the stock. Of all equities tracked, Nike had the 15th highest net out-flow for the day. Nike traded up $0.75 for the day and closed at $67.14

Several analysts have recently weighed in on the company. Nomura cut their price objective on Nike from $62.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, September 27th. Citigroup restated a “buy” rating and issued a $65.00 price objective (down previously from $67.00) on shares of Nike in a report on Wednesday, September 27th. Instinet restated a “buy” rating and issued a $62.00 price objective (up previously from $59.00) on shares of Nike in a report on Wednesday, September 27th. Buckingham Research restated a “buy” rating and issued a $64.00 price objective on shares of Nike in a report on Thursday, September 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $66.00 price objective on shares of Nike in a report on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $64.94.

The company has a market capitalization of $109,540.00, a PE ratio of 29.06, a PEG ratio of 3.05 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. Nike’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. sell-side analysts expect that Nike Inc will post 2.25 EPS for the current fiscal year.

The firm also recently declared 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 represents a $0.80 annualized dividend and a yield of 1.19%. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, December 1st. Nike’s payout ratio is presently 34.63%.

In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock worth $60,257,267 over the last three months. 3.90% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Fiduciary Trust Co. raised its position in 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 buying an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. raised its position in Nike by 651.4% during the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after buying an additional 23,450 shares during the period. Great Lakes Advisors LLC raised its position in Nike by 4.3% during the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after buying an additional 4,030 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in Nike by 20.0% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after purchasing an additional 17,285 shares during the last quarter. Finally, Airain ltd acquired a new position in Nike in the 2nd quarter worth about $3,189,000. 62.86% of the stock is currently owned by hedge funds and other institutional investors.

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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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