Traders Sell Shares of Nike, Inc. (NKE) on Strength (NKE)
Traders sold shares of Nike, Inc. (NYSE:NKE) on strength during trading hours on Monday. $27.57 million flowed into the stock on the tick-up and $67.78 million flowed out of the stock on the tick-down, for a money net flow of $40.21 million out of the stock. Of all stocks tracked, Nike had the 0th highest net out-flow for the day. Nike traded up $0.03 for the day and closed at $59.79
NKE has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $62.00 price target on shares of Nike in a report on Tuesday, April 18th. Deutsche Bank AG restated a “buy” rating and set a $64.00 price target on shares of Nike in a report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and set a $75.00 price target on shares of Nike in a report on Friday, May 5th. Berenberg Bank initiated coverage on Nike in a report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $66.00 price target on shares of Nike in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $61.04.
The firm has a 50-day moving average of $56.89 and a 200-day moving average of $55.39. The company has a market capitalization of $97.70 billion, a P/E ratio of 23.69 and a beta of 0.59.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts forecast that Nike, Inc. will post $2.42 EPS for the current fiscal year.
In other news, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the sale, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 in the last quarter. Insiders own 3.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares during the period. Flossbach Von Storch AG increased its stake in shares of Nike by 141.9% in the second quarter. Flossbach Von Storch AG now owns 4,669,950 shares of the footwear maker’s stock worth $275,527,000 after buying an additional 2,739,500 shares during the period. Wellington Management Group LLP increased its stake in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Nike during the first quarter worth approximately $122,886,000. Institutional investors own 64.77% of the company’s stock.
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.
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.