Traders Sell 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 equities 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
Several analysts recently weighed in on NKE shares. B. Riley reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Monday, June 27th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Vetr lowered Nike from a “strong-buy” rating to a “buy” rating and set a $62.64 price objective on the stock. in a research note on Tuesday, May 24th. FBR & Co reaffirmed a “hold” rating on shares of Nike in a research note on Thursday, June 30th. Finally, Stifel Nicolaus reduced their price objective on Nike from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have issued a buy rating to the stock. Nike has a consensus rating of “Buy” and an average price target of $66.26.
The stock has a 50-day moving average price of $56.52 and a 200-day moving average price of $57.88. The stock has a market capitalization of $98.81 billion and a PE ratio of 27.27.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The firm earned $8.24 billion during the quarter, compared to analysts’ expectations of $8.28 billion. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.49 earnings per share. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, September 6th will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.09%.
In related news, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John C. Lechleiter bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the acquisition, the director now owns 23,682 shares in the company, valued at approximately $1,304,641.38. The disclosure for this purchase can be found here.
A number of institutional investors recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of 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 in the last quarter. Edgewood Management LLC boosted its position in shares of 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 in the last quarter. Eaton Vance Management boosted its position in shares of 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 in the last quarter. Agran Libbie boosted its position in shares of 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 in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of 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 in the last quarter.
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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