Nike Sees Unusually High Options Volume (NKE)
Nike Inc (NYSE:NKE) was the recipient of unusually large options trading activity on Friday. Traders bought 41,628 call options on the company. This represents an increase of 476% compared to the average volume of 7,221 call options.
In other news, Director John R. Thompson, Jr. sold 14,000 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $56.45, for a total value of $790,300.00. Following the transaction, the director now directly owns 55,660 shares in the company, valued at $3,142,007. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Hilary K. Krane sold 65,000 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the completion of the transaction, the chief accounting officer now owns 270,795 shares in the company, valued at $15,164,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 379,000 shares of company stock worth $21,213,800. Company insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Nike by 2,576.9% in the first quarter. BlackRock Inc. now owns 80,846,138 shares of the footwear maker’s stock valued at $4,505,554,000 after buying an additional 77,826,052 shares during the last quarter. Jennison Associates LLC boosted its position in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the last quarter. Norges Bank acquired a new position in Nike during the fourth quarter valued at about $463,411,000. OppenheimerFunds Inc. boosted its position in Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Nike by 4.2% in the first quarter. Vanguard Group Inc. now owns 97,152,415 shares of the footwear maker’s stock valued at $5,414,304,000 after buying an additional 3,925,394 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Shares of Nike (NYSE NKE) opened at 52.48 on Wednesday. Nike has a 52 week low of $49.01 and a 52 week high of $60.33. The stock’s 50 day moving average is $53.87 and its 200-day moving average is $54.08. The firm has a market cap of $86.63 billion, a PE ratio of 21.89 and a beta of 0.44.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Nike will post $2.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, June 1st. Nike’s payout ratio is 31.72%.
A number of research analysts have recently commented on NKE shares. Goldman Sachs Group Inc restated a “buy” rating and issued a $62.00 price target on shares of Nike in a report on Tuesday, April 18th. Deutsche Bank AG restated a “buy” rating and issued a $64.00 price target on shares of Nike in a report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and issued a $75.00 price target on shares of Nike in a report on Friday, May 5th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $63.24 price target on the stock in a report on Wednesday, March 22nd. Finally, Bank of America Corp restated a “sell” rating and issued a $46.00 price target on shares of Nike in a report on Wednesday, April 5th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.78.
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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