Nike, Inc. (NYSE:NKE) insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $58.61, for a total value of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Nike, Inc. (NYSE NKE) opened at 54.95 on Friday. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The company has a market cap of $90.29 billion, a P/E ratio of 21.89 and a beta of 0.59. The company has a 50-day moving average price of $58.64 and a 200-day moving average price of $55.77. Nike also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 14,365 call options on the stock. This represents an increase of approximately 228% compared to the typical volume of 4,379 call options.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Nike, Inc. will post $2.42 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in NKE. Pensionfund DSM Netherlands raised its position in shares of Nike by 1.9% in the first quarter. Pensionfund DSM Netherlands now owns 83,800 shares of the footwear maker’s stock worth $4,670,000 after buying an additional 1,600 shares during the last quarter. Pensionfund Sabic raised its position in shares of Nike by 6.6% in the first quarter. Pensionfund Sabic now owns 42,100 shares of the footwear maker’s stock worth $2,346,000 after buying an additional 2,600 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Nike by 41.0% in the fourth quarter. Macquarie Group Ltd. now owns 209,770 shares of the footwear maker’s stock worth $10,663,000 after buying an additional 61,015 shares during the last quarter. Searle & CO. purchased a new position in shares of Nike during the fourth quarter worth approximately $899,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Nike during the fourth quarter worth approximately $2,199,000. 63.47% of the stock is owned by institutional investors.
NKE has been the topic of a number of recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $64.00 target price on shares of Nike in a report on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Nike in a report on Friday, May 5th. Berenberg Bank initiated coverage on Nike in a report on Tuesday, May 16th. They issued a “buy” rating and a $70.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $66.00 target price on shares of Nike in a report on Friday, June 30th. Finally, Morgan Stanley upgraded Nike from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $56.00 to $68.00 in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $61.04.
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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