Nike Sees Unusually Large Options Volume (NKE)

Share on StockTwits

Nike Inc (NYSE:NKE) was the target of unusually large options trading on Wednesday. Investors purchased 29,899 put options on the stock. This represents an increase of approximately 819% compared to the average daily volume of 3,253 put options.

In related news, CFO Andrew Campion sold 103,000 shares of the company’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $80.01, for a total transaction of $8,241,030.00. Following the completion of the sale, the chief financial officer now owns 235,457 shares in the company, valued at $18,838,914.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric D. Sprunk sold 150,000 shares of the company’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $79.07, for a total value of $11,860,500.00. Following the sale, the insider now owns 241,959 shares of the company’s stock, valued at approximately $19,131,698.13. The disclosure for this sale can be found here. Insiders have sold 315,778 shares of company stock valued at $24,911,826 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in Nike during the 2nd quarter worth about $104,000. BDO Wealth Advisors LLC lifted its holdings in Nike by 1,044.3% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after purchasing an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. purchased a new stake in Nike during the 2nd quarter worth about $119,000. Bruderman Asset Management LLC purchased a new stake in Nike during the 1st quarter worth about $129,000. Finally, Princeton Capital Management LLC purchased a new stake in Nike during the 1st quarter worth about $130,000. 64.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NKE opened at $80.40 on Friday. Nike has a one year low of $50.35 and a one year high of $83.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.63 and a current ratio of 2.51. The firm has a market cap of $131.57 billion, a PE ratio of 33.15, a PEG ratio of 2.74 and a beta of 0.70.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The firm had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. research analysts expect that Nike will post 2.62 EPS for the current fiscal year.

Nike declared that its Board of Directors has approved a share repurchase plan on Thursday, June 28th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the footwear maker to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.00%. Nike’s dividend payout ratio is presently 33.06%.

NKE has been the subject of several recent research reports. Morgan Stanley initiated coverage on Nike in a report on Wednesday, August 1st. They set an “overweight” rating and a $88.00 price target for the company. Jefferies Financial Group reissued a “neutral” rating and issued a $68.00 price objective on shares of Nike in a research report on Wednesday, June 13th. Credit Suisse Group reissued a “buy” rating and issued a $78.00 price objective on shares of Nike in a research report on Thursday, June 14th. B. Riley boosted their price objective on Nike from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, June 29th. Finally, Telsey Advisory Group boosted their price objective on Nike from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $79.60.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Read More: Book Value Per Share – BVPS

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply