NIKE Sees Unusually High Options Volume (NYSE:NKE)

NIKE, Inc. (NYSE:NKE - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 202,836 call options on the company. This represents an increase of approximately 52% compared to the typical volume of 133,250 call options.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

Several large investors have recently made changes to their positions in NKE. Tidal Investments LLC lifted its position in shares of NIKE by 65.4% during the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock worth $9,332,000 after buying an additional 41,752 shares during the last quarter. Denver PWM LLC lifted its holdings in shares of NIKE by 9.7% in the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock worth $228,000 after acquiring an additional 227 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of NIKE by 6.3% in the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock valued at $18,621,000 after purchasing an additional 14,592 shares in the last quarter. Cacti Asset Management LLC bought a new stake in shares of NIKE during the 4th quarter valued at approximately $9,987,000. Finally, GAMMA Investing LLC grew its holdings in shares of NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating for the company. Piper Sandler reduced their price target on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Robert W. Baird lowered their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group cut their price objective on NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Guggenheim restated a "buy" rating and set a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Sixteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $82.81.

NIKE Price Performance

Shares of NYSE NKE traded down $0.82 during midday trading on Friday, reaching $57.66. The company's stock had a trading volume of 17,132,246 shares, compared to its average volume of 14,426,587. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market cap of $85.29 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.52 and a beta of 1.15. The business's 50 day moving average price is $66.75 and its two-hundred day moving average price is $72.95. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The company's quarterly revenue was down 9.1% compared to the same quarter last year. On average, analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's payout ratio is presently 53.16%.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.