Traders Sell Shares of Nike (NKE) on Strength (NKE)

Investors sold shares of Nike (NYSE:NKE) on strength during trading hours on Monday. $72.68 million flowed into the stock on the tick-up and $169.88 million flowed out of the stock on the tick-down, for a money net flow of $97.20 million out of the stock. Of all companies tracked, Nike had the 22nd highest net out-flow for the day. Nike traded up $1.27 for the day and closed at $65.90

A number of equities analysts have recently commented on the stock. Nomura set a $74.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective on shares of Nike in a research report on Friday, December 22nd. Macquarie restated a “buy” rating and issued a $80.00 price objective on shares of Nike in a research report on Friday. Wedbush restated an “outperform” rating and issued a $74.00 price objective (down from $75.00) on shares of Nike in a research report on Friday. Finally, Cowen set a $68.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Sunday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.18.

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The stock has a market cap of $105,149.06, a P/E ratio of 62.17, a P/E/G ratio of 2.88 and a beta of 0.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.66 and a quick ratio of 1.73.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.53 by $0.15. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. analysts expect that Nike will post 2.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio (DPR) is presently 75.47%.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 912,802 shares of company stock worth $58,993,107 over the last three months. Insiders own 3.90% of the company’s stock.

Several institutional investors have recently modified their holdings of NKE. Janus Henderson Group PLC grew its holdings in shares of Nike by 4,252.6% in the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares during the last quarter. Capital World Investors grew its holdings in shares of Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after purchasing an additional 8,058,601 shares during the last quarter. Harding Loevner LP grew its holdings in shares of Nike by 97.1% in the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after purchasing an additional 5,987,728 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in shares of Nike in the second quarter worth approximately $226,588,000. Finally, Capital Research Global Investors grew its holdings in shares of Nike by 10.4% in the second quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after purchasing an additional 2,274,869 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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