NIKE (NYSE:NKE) Sees Unusually-High Trading Volume on Strong Earnings

Shares of NIKE, Inc. (NYSE:NKE) saw strong trading volume on Friday following a stronger than expected earnings report. 7,379,743 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 11,531,662 shares.The stock last traded at $76.36 and had previously closed at $77.10.

The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is 45.85%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC lifted its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of NIKE during the second quarter valued at about $48,000. Finally, Ecofi Investissements SA bought a new stake in NIKE in the second quarter worth about $49,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.2 %

The firm has a market cap of $115.36 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $78.07 and its 200 day simple moving average is $80.55.

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.