NIKE, Inc. (NYSE:NKE) Short Interest Up 25.7% in February

NIKE, Inc. (NYSE:NKE) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 42,120,000 shares, an increase of 25.7% from the February 13th total of 33,510,000 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 13,280,000 shares, the days-to-cover ratio is presently 3.2 days.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the third quarter worth approximately $30,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC purchased a new stake in NIKE in the fourth quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NKE. JPMorgan Chase & Co. cut their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Bank of America decreased their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.54.

NIKE Stock Performance

NIKE stock traded up $2.12 during midday trading on Monday, reaching $73.78. The stock had a trading volume of 15,988,630 shares, compared to its average volume of 12,095,181. NIKE has a 12 month low of $68.62 and a 12 month high of $101.92. The firm’s 50-day moving average price is $74.71 and its 200 day moving average price is $77.71. The firm has a market capitalization of $109.13 billion, a PE ratio of 22.77, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, research analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is presently 49.38%.

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.