Traders Buy Large Volume of Nike Call Options (NKE)
Nike, Inc. (NYSE:NKE) was the target of some unusual options trading on Wednesday. Stock investors purchased 14,365 call options on the stock. This represents an increase of 228% compared to the typical volume of 4,379 call options.
In related news, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the completion of the sale, the insider now owns 300,108 shares of the company’s stock, valued at $17,706,372. The disclosure for this sale can be found here. Over the last quarter, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in NKE. Winslow Evans & Crocker Inc. increased its position in shares of Nike by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 7,858 shares of the footwear maker’s stock valued at $438,000 after buying an additional 400 shares in the last quarter. Private Bank & Trust Co. purchased a new position in shares of Nike during the first quarter valued at about $220,000. First Command Financial Services Inc. increased its position in shares of Nike by 5.7% in the first quarter. First Command Financial Services Inc. now owns 2,650 shares of the footwear maker’s stock valued at $147,000 after buying an additional 142 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Nike by 152.2% in the first quarter. Prospera Financial Services Inc now owns 15,471 shares of the footwear maker’s stock valued at $854,000 after buying an additional 9,336 shares in the last quarter. Finally, Alpha Windward LLC increased its position in shares of Nike by 1.5% in the first quarter. Alpha Windward LLC now owns 4,078 shares of the footwear maker’s stock valued at $227,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.
Several equities research analysts have weighed in on NKE shares. Deutsche Bank AG restated a “buy” rating and set a $64.00 target price on shares of Nike in a research note on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and set a $75.00 target price on shares of Nike in a research note on Friday, May 5th. Berenberg Bank started coverage on Nike in a research note on Tuesday, May 16th. They set a “buy” rating and a $70.00 target price for the company. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Friday, June 30th. Finally, Morgan Stanley upgraded Nike from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $61.04.
Nike (NYSE NKE) opened at 54.95 on Friday. Nike has a 12 month low of $49.01 and a 12 month high of $60.53. The company has a market cap of $90.29 billion, a PE ratio of 21.89 and a beta of 0.59. The company has a 50-day moving average of $58.64 and a 200 day moving average of $55.77.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, equities analysts forecast that Nike will post $2.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.31%. 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, 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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