Investors Buy Nike, Inc. (NKE) on Weakness

Traders bought shares of Nike, Inc. (NYSE:NKE) on weakness during trading hours on Thursday. $129.48 million flowed into the stock on the tick-up and $68.85 million flowed out of the stock on the tick-down, for a money net flow of $60.63 million into the stock. Of all companies tracked, Nike had the 14th highest net in-flow for the day. Nike traded down ($0.20) for the day and closed at $50.83

Several analysts recently commented on NKE shares. Berenberg Bank reaffirmed a “buy” rating and set a $70.00 target price on shares of Nike in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) set a $62.00 target price on Nike and gave the stock a “buy” rating in a report on Friday, June 16th. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $55.06 target price on the stock in a report on Thursday, June 15th. Deutsche Bank AG set a $63.00 target price on Nike and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 target price on Nike and gave the stock a “buy” rating in a report on Saturday, June 24th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nike presently has an average rating of “Hold” and a consensus target price of $59.14.

The company has a 50-day moving average of $52.76 and a 200-day moving average of $54.86. The company has a market capitalization of $83.32 billion, a PE ratio of 21.64 and a beta of 0.61.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that Nike, Inc. will post $2.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Tuesday, September 5th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.42%. Nike’s dividend payout ratio is currently 30.64%.

In related 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 value of $339,886.80. Following the completion of the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $58.10, for a total value of $1,630,983.20. Following the completion of the sale, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 162,117 shares of company stock valued at $9,409,321. 3.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. V Wealth Management LLC acquired a new stake in shares of Nike during the second quarter valued at about $100,000. Webster Bank N. A. grew its stake in shares of Nike by 75.5% during the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after acquiring an additional 900 shares in the last quarter. Asset Planning Services Ltd. grew its stake in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares in the last quarter. Atlantic Trust LLC acquired a new stake in shares of Nike during the second quarter valued at about $136,000. Finally, Rational Advisors LLC grew its stake in shares of Nike by 14.3% during the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.

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Nike Company Profile

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.

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