Traders Buy Large Volume of Nike Call Options (NKE)

Nike, Inc. (NYSE:NKE) was the target of some unusual options trading activity on Friday. Stock traders purchased 12,554 call options on the stock. This is an increase of approximately 135% compared to the typical volume of 5,346 call options.

In related news, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the sale, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Asset Planning Services Ltd. lifted its position in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Stearns Financial Services Group lifted its position in shares of Nike by 0.4% in the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after purchasing an additional 17 shares during the period. Accredited Investors Inc. lifted its position in shares of Nike by 0.5% in the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 19 shares during the period. Montecito Bank & Trust lifted its position in shares of Nike by 0.3% in the 1st quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after purchasing an additional 24 shares during the period. Finally, Smith Shellnut Wilson LLC ADV lifted its position in shares of Nike by 0.3% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 62.63% of the company’s stock.

A number of research analysts have weighed in on NKE shares. Piper Jaffray Companies set a $50.00 target price on shares of Nike and gave the stock a “hold” rating in a research report on Thursday, June 1st. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 target price for the company. in a research report on Monday, June 5th. Morgan Stanley reissued a “neutral” rating and set a $56.00 target price on shares of Nike in a research report on Wednesday, June 7th. Finally, Berenberg Bank reissued a “buy” rating and set a $70.00 target price on shares of Nike in a research report on Wednesday, June 14th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $60.04.

Nike (NYSE:NKE) opened at 53.70 on Wednesday. The company has a 50-day moving average of $55.57 and a 200 day moving average of $55.39. Nike has a one year low of $49.01 and a one year high of $60.53. The firm has a market capitalization of $88.24 billion, a price-to-earnings ratio of 21.39 and a beta of 0.61.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the company earned $0.73 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that Nike will post $2.40 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s dividend payout ratio is presently 28.69%.

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About Nike

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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