Nike Inc (NKE) Sees Significant Decline in Short Interest
Nike Inc (NYSE:NKE) was the recipient of a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 31,097,794 shares, a decrease of 20.6% from the December 15th total of 39,142,075 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 10,092,447 shares, the days-to-cover ratio is presently 3.1 days.
Nike (NYSE:NKE) opened at $64.67 on Tuesday. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $65.18. The company has a market capitalization of $105,510.00, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.93 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. equities research analysts expect that Nike will post 2.25 EPS for the current fiscal year.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F. Slusher sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the completion of the sale, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The disclosure for this sale can be found here. Insiders sold 967,896 shares of company stock worth $60,257,267 in the last 90 days. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in NKE. Janus Henderson Group PLC raised its holdings in shares of Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after acquiring an additional 16,237,557 shares during the last quarter. Capital World Investors grew its position in shares of Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares in the last quarter. Harding Loevner LP grew its position in shares of Nike by 97.1% in the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after purchasing an additional 5,987,728 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of Nike in the second quarter valued at approximately $226,588,000. Finally, Alliancebernstein L.P. grew its position in shares of Nike by 25.5% in the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after purchasing an additional 3,033,280 shares in the last quarter. 62.75% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on NKE shares. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price on the stock in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and issued a $57.00 target price on shares of Nike in a research note on Wednesday, December 13th. DA Davidson upped their target price on Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 target price on Nike and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Buckingham Research started coverage on Nike in a research note on Saturday, January 6th. They issued a “buy” rating and a $72.00 target price on the stock. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have given a buy rating to the stock. Nike presently has a consensus rating of “Hold” and a consensus price target of $64.40.
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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