Traders Sell Shares of Nike Inc. (NKE) on Strength (NKE)
Traders sold shares of Nike Inc. (NYSE:NKE) on strength during trading hours on Wednesday. $86.36 million flowed into the stock on the tick-up and $101.41 million flowed out of the stock on the tick-down, for a money net flow of $15.05 million out of the stock. Of all stocks tracked, Nike had the 0th highest net out-flow for the day. Nike traded up $0.60 for the day and closed at $60.22
A number of equities research analysts have weighed in on the company. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $66.07 price objective for the company in a research note on Friday, April 29th. B. Riley reiterated a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Wednesday, June 22nd. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Canaccord Genuity reiterated a “neutral” rating and issued a $56.00 price objective (down previously from $57.00) on shares of Nike in a research note on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company. Nike has a consensus rating of “Buy” and an average target price of $66.26.
The stock’s 50 day moving average price is $56.83 and its 200-day moving average price is $57.83. The company has a market capitalization of $101.03 billion and a price-to-earnings ratio of 27.88.
Nike (NYSE:NKE) last issued its 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 company earned $8.24 billion during the quarter, compared to analyst estimates of $8.28 billion. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Equities research analysts expect that Nike Inc. will post $2.40 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, September 1st.
In related news, EVP John F. Slusher sold 72,696 shares of Nike 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 in the company, valued at approximately $13,389,972.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 price of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the acquisition, the director now directly owns 23,682 shares in the company, valued at $1,304,641.38. The disclosure for this purchase can be found here.
Several hedge funds have modified their holdings of NKE. Greenwood Capital Associates LLC boosted its stake in shares of Nike by 96.8% in the fourth quarter. Greenwood Capital Associates LLC now owns 94,395 shares of the footwear maker’s stock valued at $5,900,000 after buying an additional 46,425 shares during the period. Pittenger & Anderson Inc. boosted its stake in shares of Nike by 92.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 110,580 shares of the footwear maker’s stock valued at $6,911,000 after buying an additional 53,080 shares during the period. US Bancorp DE boosted its stake in shares of Nike by 94.3% in the fourth quarter. US Bancorp DE now owns 1,730,841 shares of the footwear maker’s stock valued at $108,178,000 after buying an additional 839,835 shares during the period. Brighton Jones LLC boosted its stake in shares of Nike by 279.8% in the fourth quarter. Brighton Jones LLC now owns 27,426 shares of the footwear maker’s stock valued at $1,714,000 after buying an additional 20,204 shares during the period. Finally, Eaton Vance Management boosted its stake 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 valued at $494,447,000 after buying an additional 3,637,442 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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