Traders Sell Nike (NKE) on Strength (NKE)

Investors sold shares of Nike (NYSE:NKE) on strength during trading hours on Monday. $53.99 million flowed into the stock on the tick-up and $101.30 million flowed out of the stock on the tick-down, for a money net flow of $47.31 million out of the stock. Of all equities tracked, Nike had the 9th highest net out-flow for the day. Nike traded up $0.79 for the day and closed at $66.88

Several equities research analysts recently commented on NKE shares. Canaccord Genuity cut their price target on shares of Nike from $64.00 to $62.00 and set a “hold” rating for the company in a report on Monday, December 25th. DA Davidson boosted their price target on shares of Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 26th. Buckingham Research set a $71.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Monday, December 25th. JPMorgan Chase set a $60.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Wednesday, December 27th. Finally, Barclays set a $71.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Thursday, December 28th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Nike has a consensus rating of “Hold” and a consensus target price of $68.55.

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The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35. The stock has a market cap of $107,524.39, a price-to-earnings ratio of 26.65, a PEG ratio of 2.79 and a beta of 0.65.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The company had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Nike’s revenue for the quarter was up 6.5% compared to the same quarter last year. research analysts anticipate that Nike will post 2.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were given a $0.20 dividend. The ex-dividend date was Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. Nike’s payout ratio is currently 31.87%.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric D. Sprunk sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the transaction, the insider now directly owns 227,199 shares in the company, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Field & Main Bank purchased a new stake in Nike during the fourth quarter worth about $100,000. Wagner Wealth Management LLC purchased a new stake in Nike during the fourth quarter worth about $103,000. G&S Capital LLC purchased a new stake in Nike during the fourth quarter worth about $112,000. Willingdon Wealth Management purchased a new stake in Nike during the third quarter worth about $114,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in Nike during the fourth quarter worth about $116,000. 65.62% of the stock is currently owned by institutional investors.

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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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