Traders Sell Shares of Nike Inc. (NKE) on Strength (NKE)
Traders sold shares of Nike Inc. (NYSE:NKE) on strength during trading on Thursday. $54.68 million flowed into the stock on the tick-up and $103.61 million flowed out of the stock on the tick-down, for a money net flow of $48.93 million out of the stock. Of all equities tracked, Nike had the 4th highest net out-flow for the day. Nike traded up $0.04 for the day and closed at $54.79
NKE has been the topic of several research reports. Brean Capital lowered their price target on Nike from $68.00 to $62.00 in a research note on Wednesday, June 29th. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $62.29 price objective on the stock in a report on Wednesday, April 6th. Macquarie reaffirmed a “buy” rating and set a $77.50 price objective on shares of Nike in a report on Tuesday, April 19th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a report on Tuesday, April 12th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Nike in a report on Monday, April 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have issued a buy rating to the stock. Nike presently has an average rating of “Buy” and a consensus price target of $66.24.
The firm’s 50-day moving average is $55.67 and its 200-day moving average is $58.18. The company has a market cap of $91.92 billion and a PE ratio of 25.37.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. During the same period last year, the company posted $0.49 EPS. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.28 billion. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that Nike Inc. will post $2.40 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Monday, June 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Thursday, June 2nd.
In other news, EVP John F. Slusher sold 72,696 shares of the stock in a transaction on Tuesday, July 26th. The shares were 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 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 Securities & Exchange Commission, which is available through this link. Also, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the transaction, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of NKE. Vanguard Group Inc. raised its position in shares of Nike by 102.6% in the fourth quarter. Vanguard Group Inc. now owns 85,903,718 shares of the footwear maker’s stock worth $5,368,982,000 after buying an additional 43,496,925 shares during the last quarter. Jennison Associates LLC raised 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 during the last quarter. Morgan Stanley raised its position in shares of Nike by 93.5% in the fourth quarter. Morgan Stanley now owns 14,084,729 shares of the footwear maker’s stock worth $880,297,000 after buying an additional 6,806,994 shares during the last quarter. Edgewood Management LLC raised 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 during the last quarter. Finally, Eaton Vance Management raised 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 during 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.