Nike Target of Unusually High Options Trading (NKE)
Nike, Inc. (NYSE:NKE) saw unusually large options trading on Tuesday. Stock investors bought 10,309 put options on the stock. This is an increase of 171% compared to the average volume of 3,808 put options.
A number of research firms have recently issued reports on NKE. Stifel Nicolaus set a $66.00 price objective on Nike and gave the company a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on Nike and gave the company a “hold” rating in a research report on Saturday, July 22nd. Guggenheim restated a “buy” rating and set a $70.00 price objective on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price objective on Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC restated an “overweight” rating and set a $65.00 price objective on shares of Nike in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $61.04.
In other news, insider Trevor A. Edwards sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now directly owns 729,610 shares in the company, valued at $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 492,360 shares of company stock worth $28,485,174. Company insiders own 3.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of NKE. V Wealth Management LLC purchased a new stake in shares of Nike during the second quarter worth approximately $100,000. Crestwood Advisors Group LLC purchased a new stake in shares of Nike during the first quarter worth approximately $117,000. Webster Bank N. A. raised its stake in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Gierl Augustine Investment Management Inc raised its stake in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the last quarter. Finally, Asset Planning Services Ltd. purchased a new stake in shares of Nike during the first quarter worth approximately $118,000. 63.47% of the stock is owned by institutional investors and hedge funds.
Shares of Nike (NYSE NKE) opened at 57.46 on Friday. Nike has a one year low of $49.01 and a one year high of $60.53. The company has a market capitalization of $94.42 billion, a P/E ratio of 22.89 and a beta of 0.59. The firm has a 50 day moving average price of $58.59 and a 200 day moving average price of $55.75.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Nike will post $2.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is 28.69%.
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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