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

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Investors sold shares of Nike Inc (NYSE:NKE) on strength during trading hours on Wednesday. $114.66 million flowed into the stock on the tick-up and $162.51 million flowed out of the stock on the tick-down, for a money net flow of $47.85 million out of the stock. Of all stocks tracked, Nike had the 19th highest net out-flow for the day. Nike traded up $0.23 for the day and closed at $82.77

Several equities research analysts recently commented on NKE shares. HSBC upgraded shares of Nike from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $95.00 in a research report on Tuesday, January 8th. Robert W. Baird lowered shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 price objective on the stock. in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Needham & Company LLC upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Thursday, January 10th. Bank of America set a $55.00 price objective on shares of Nike and gave the stock a “sell” rating in a research report on Friday, January 11th. Finally, Cowen set a $80.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Friday, January 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.10.

The firm has a market capitalization of $130.49 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 2.58 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Analysts expect that Nike Inc will post 2.55 EPS for the current year.

In other news, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,504 shares of company stock worth $14,320,816. Insiders own 3.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Standard Life Aberdeen plc increased its position in Nike by 10.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 403,034 shares of the footwear maker’s stock worth $34,145,000 after purchasing an additional 37,643 shares in the last quarter. Vanguard Group Inc increased its position in Nike by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after purchasing an additional 1,207,986 shares in the last quarter. Chesley Taft & Associates LLC increased its position in Nike by 2.1% during the 4th quarter. Chesley Taft & Associates LLC now owns 24,119 shares of the footwear maker’s stock worth $1,788,000 after purchasing an additional 490 shares in the last quarter. North Star Investment Management Corp. increased its position in Nike by 6.6% during the 4th quarter. North Star Investment Management Corp. now owns 7,809 shares of the footwear maker’s stock worth $579,000 after purchasing an additional 485 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in Nike by 218.8% during the 4th quarter. Moody National Bank Trust Division now owns 2,805 shares of the footwear maker’s stock worth $208,000 after purchasing an additional 1,925 shares in the last quarter. Institutional investors and hedge funds own 65.78% of the company’s stock.

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About Nike (NYSE:NKE)

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.

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