Traders Purchase High Volume of Nike Put Options (NKE)
Nike, Inc. (NYSE:NKE) saw some unusual options trading activity on Monday. Stock investors bought 14,842 put options on the stock. This is an increase of approximately 132% compared to the typical volume of 6,391 put options.
Nike (NKE) opened at 52.67 on Thursday. The company has a 50 day moving average of $55.57 and a 200-day moving average of $55.39. The stock has a market capitalization of $86.55 billion, a price-to-earnings ratio of 20.98 and a beta of 0.61. Nike has a 12-month low of $49.01 and a 12-month high of $60.53.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the company earned $0.73 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that Nike will post $2.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Hilary K. Krane sold 28,072 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the transaction, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Perpetual Ltd boosted its holdings in Nike by 41.5% during the 2nd quarter. Perpetual Ltd now owns 114,400 shares of the footwear maker’s stock valued at $6,750,000 after acquiring an additional 33,539 shares during the period. Perigon Wealth Management LLC raised its position in Nike by 51.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 63,834 shares of the footwear maker’s stock valued at $3,773,000 after purchasing an additional 21,657 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in Nike in the 2nd quarter valued at about $465,000. Sentry Investment Management LLC raised its position in Nike by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 104,569 shares of the footwear maker’s stock valued at $6,170,000 after purchasing an additional 993 shares in the last quarter. Finally, Atlantic Trust LLC acquired a new stake in Nike in the 2nd quarter valued at about $136,000. Institutional investors own 62.63% of the company’s stock.
Several brokerages recently commented on NKE. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price target on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Nike in a research note on Monday, July 24th. Cowen and Company set a $54.00 price target on shares of Nike and gave the stock a “hold” rating in a research note on Friday, August 4th. Finally, Barclays PLC reissued an “overweight” rating and issued a $65.00 price target on shares of Nike in a research note on Friday, June 30th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $59.12.
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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