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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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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