Nike Sees Unusually High Options Volume (NKE)
Nike, Inc. (NYSE:NKE) was the recipient of some unusual options trading activity on Tuesday. Investors bought 10,309 put options on the company. This is an increase of approximately 171% compared to the average daily volume of 3,808 put options.
Several analysts have issued reports on the stock. Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 1st. BidaskClub raised shares of Nike from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Vetr downgraded shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective for the company. in a research note on Monday, June 5th. Robert W. Baird reissued an “outperform” rating and issued a $62.00 price objective on shares of Nike in a research note on Friday, June 30th. Finally, Morgan Stanley reissued a “neutral” rating and issued a $56.00 price objective on shares of Nike in a research note on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company. Nike currently has an average rating of “Buy” and a consensus price target of $61.04.
In related news, CFO Andrew Campion sold 96,243 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the transaction, the insider now directly owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in Nike by 4.5% in the second quarter. Advisory Services Network LLC now owns 13,151 shares of the footwear maker’s stock valued at $776,000 after buying an additional 561 shares during the period. Afam Capital Inc. boosted its stake in Nike by 2.7% in the second quarter. Afam Capital Inc. now owns 93,109 shares of the footwear maker’s stock valued at $5,493,000 after buying an additional 2,435 shares during the period. Beaton Management Co. Inc. purchased a new stake in Nike during the second quarter valued at approximately $1,173,000. Tandem Investment Advisors Inc. boosted its stake in Nike by 8.6% in the second quarter. Tandem Investment Advisors Inc. now owns 118,780 shares of the footwear maker’s stock valued at $7,008,000 after buying an additional 9,396 shares during the period. Finally, North Star Asset Management Inc. boosted its stake in Nike by 8.4% in the second quarter. North Star Asset Management Inc. now owns 61,512 shares of the footwear maker’s stock valued at $3,629,000 after buying an additional 4,780 shares during the period. Institutional investors own 63.47% of the company’s stock.
Nike (NKE) opened at 57.46 on Friday. Nike has a 52-week low of $49.01 and a 52-week high of $60.53. The firm has a market capitalization of $94.42 billion, a P/E ratio of 22.89 and a beta of 0.59. The company’s 50-day moving average is $58.59 and its 200-day moving average is $55.75.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same period last year, the firm posted $0.49 EPS. Nike’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts predict that Nike will post $2.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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Nike Company Profile
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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