Investors Buy Nike (NKE) on Weakness

Traders bought shares of Nike Inc (NYSE:NKE) on weakness during trading hours on Wednesday. $75.89 million flowed into the stock on the tick-up and $39.17 million flowed out of the stock on the tick-down, for a money net flow of $36.72 million into the stock. Of all stocks tracked, Nike had the 25th highest net in-flow for the day. Nike traded down ($0.44) for the day and closed at $67.05

Several equities research analysts have weighed in on the company. Goldman Sachs Group set a $59.00 price target on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 14th. HSBC downgraded Nike from a “buy” rating to a “hold” rating and increased their price target for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a research report on Sunday, December 31st. They set a “buy” rating and a $72.00 price target on the stock. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, B. Riley increased their price target on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Nike currently has an average rating of “Hold” and a consensus target price of $65.61.

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The company has a market capitalization of $109,390.00, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.68.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the company posted $0.50 EPS. The business’s revenue was up 4.6% on a year-over-year basis. analysts forecast that Nike Inc will post 2.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio (DPR) is 34.63%.

In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, 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 insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the transaction, the insider now directly owns 227,199 shares in the company, valued at $15,372,284.34. The disclosure for this sale can be found here. Insiders sold a total of 932,896 shares of company stock worth $59,594,217 over the last three months. Corporate insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Colonial Trust Advisors raised its position in shares of Nike by 22.5% during the 4th quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock valued at $10,652,000 after buying an additional 31,310 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Nike by 6.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 232,991 shares of the footwear maker’s stock valued at $14,574,000 after buying an additional 14,366 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Nike by 15.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 909,933 shares of the footwear maker’s stock valued at $56,915,000 after buying an additional 122,908 shares during the period. CNB Bank purchased a new stake in shares of Nike during the 4th quarter valued at approximately $470,000. Finally, Intercontinental Wealth Advisors LLC purchased a new stake in shares of Nike during the 4th quarter valued at approximately $228,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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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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