Investors Purchase High Volume of Put Options on Nike (NKE)
Nike, Inc. (NYSE:NKE) saw unusually large options trading activity on Thursday. Traders purchased 19,067 put options on the company. This is an increase of 152% compared to the average daily volume of 7,576 put options.
Shares of Nike (NKE) opened at 53.36 on Friday. The firm’s 50-day moving average is $57.31 and its 200-day moving average is $55.74. The stock has a market capitalization of $87.68 billion, a price-to-earnings ratio of 21.26 and a beta of 0.61. Nike has a 52 week low of $49.01 and a 52 week high of $60.53.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same period in the previous year, the business earned $0.49 EPS. Nike’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Nike will post $2.41 EPS 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s dividend payout ratio is presently 28.69%.
NKE has been the subject of a number of recent research reports. Berenberg Bank reissued a “buy” rating and set a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. Vetr raised shares of Nike from a “hold” rating to a “buy” rating and set a $55.06 target price for the company in a report on Thursday, June 15th. Instinet reaffirmed a “buy” rating on shares of Nike in a report on Monday, May 15th. Nomura reaffirmed a “buy” rating on shares of Nike in a report on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 target price on shares of Nike in a report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and an average price target of $60.36.
In other Nike news, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 over the last three months. 3.90% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. V Wealth Management LLC acquired a new stake in Nike during the second quarter valued at about $100,000. Crestwood Advisors Group LLC acquired a new stake in Nike during the first quarter valued at about $117,000. Webster Bank N. A. increased its stake in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. Asset Planning Services Ltd. increased its stake in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares in the last quarter. Finally, Atlantic Trust LLC acquired a new stake in Nike during the second quarter valued at about $136,000. Institutional investors own 62.71% of the company’s stock.
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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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