Investors Sell Shares of Nike Inc. (NKE) on Strength (NKE)
Traders sold shares of Nike Inc. (NYSE:NKE) on strength during trading hours on Thursday. $50.97 million flowed into the stock on the tick-up and $80.28 million flowed out of the stock on the tick-down, for a money net flow of $29.31 million out of the stock. Of all companies tracked, Nike had the 0th highest net out-flow for the day. Nike traded up $0.35 for the day and closed at $57.21
A number of analysts recently commented on NKE shares. Vetr cut Nike from a “hold” rating to a “sell” rating and set a $54.43 price objective for the company. in a research report on Monday. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a research report on Wednesday, August 10th. Robert W. Baird reiterated an “outperform” rating and set a $67.00 price objective on shares of Nike in a research report on Wednesday, July 6th. Nomura set a $64.00 price objective on Nike and gave the company a “buy” rating in a research report on Tuesday, July 5th. Finally, HSBC reiterated a “hold” rating and set a $56.00 price objective on shares of Nike in a research report on Monday, July 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the company’s stock. Nike has an average rating of “Buy” and a consensus price target of $66.26.
The firm has a 50 day moving average price of $56.41 and a 200-day moving average price of $57.91. The firm has a market capitalization of $95.98 billion and a PE ratio of 26.49.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business earned $8.24 billion during the quarter, compared to analyst estimates of $8.28 billion. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. Equities analysts expect that Nike Inc. will post $2.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, September 1st.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the transaction, the executive vice president now directly owns 231,861 shares in the company, valued at $13,389,972.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the transaction, the executive vice president now owns 310,795 shares in the company, valued at $17,712,207.05. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Nike by 92.6% in the fourth quarter. Jennison Associates LLC now owns 32,071,004 shares of the footwear maker’s stock worth $2,004,438,000 after buying an additional 15,421,544 shares during the period. Edgewood Management LLC boosted its position in Nike by 109.1% in the fourth quarter. Edgewood Management LLC now owns 8,225,463 shares of the footwear maker’s stock worth $514,091,000 after buying an additional 4,291,511 shares during the period. Eaton Vance Management boosted its position in Nike by 85.1% in the fourth quarter. Eaton Vance Management now owns 7,911,150 shares of the footwear maker’s stock worth $494,447,000 after buying an additional 3,637,442 shares during the period. Agran Libbie boosted its position in Nike by 19,957.1% in the fourth quarter. Agran Libbie now owns 3,264,894 shares of the footwear maker’s stock worth $2,041,000 after buying an additional 3,248,616 shares during the period. Finally, BlackRock Investment Management LLC boosted its position in Nike by 101.3% in the fourth quarter. BlackRock Investment Management LLC now owns 4,481,875 shares of the footwear maker’s stock worth $280,117,000 after buying an additional 2,255,522 shares during the period.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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