NIKE Sees Unusually High Options Volume (NYSE:NKE)

NIKE, Inc. (NYSE:NKE) was the target of some unusual options trading on Thursday. Stock traders acquired 148,154 call options on the company. This represents an increase of approximately 43% compared to the typical volume of 103,393 call options.

NIKE Stock Performance

NKE opened at $65.87 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $74.31 and its two-hundred day moving average price is $77.05. The firm has a market capitalization of $97.42 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE has a 12-month low of $64.95 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. NIKE’s revenue was down 9.1% compared to the same quarter last year. On average, equities analysts forecast that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Barclays lowered their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Needham & Company LLC cut their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly 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 document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the 4th quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

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.