What Could Be Propelling Nike Inc to Decrease?

 What Could Be Propelling Nike Inc to Decrease?

In today’s session Nike Inc (NKE) recorded an unusually high (663) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the April, 2017 put, expecting serious NKE decrease. With 663 contracts traded and 55024 open interest for the Apr, 17 contract, it seems this is a quite bearish bet. The option with symbol: NKE170421P00050000 closed last at: $2.24 or 3.4% down. About 506,743 shares traded hands. Nike Inc (NYSE:NKE) has declined 14.33% since April 26, 2016 and is downtrending. It has underperformed by 19.59% the S&P500.

Analysts await Nike Inc (NYSE:NKE) to report earnings on December, 27. They expect $0.43 EPS, down 4.44% or $0.02 from last year’s $0.45 per share. NKE’s profit will be $709.02 million for 29.76 P/E if the $0.43 EPS becomes a reality. After $0.73 actual EPS reported by Nike Inc for the previous quarter, Wall Street now forecasts -41.10% negative EPS growth.

Nike Inc (NYSE:NKE) Ratings Coverage

Out of 35 analysts covering Nike Inc. (NYSE:NKE), 22 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 63% are positive. $156.0 is the highest target while $51 is the lowest. The $84.06 average target is 64.24% above today’s ($51.18) stock price. Nike Inc. has been the topic of 106 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the shares of NKE in a report on Tuesday, December 15 with “Buy” rating. B.riley maintained Nike Inc (NYSE:NKE) on Monday, September 26 with “Neutral” rating. Telsey Advisory Group maintained Nike Inc (NYSE:NKE) rating on Wednesday, September 28. Telsey Advisory Group has “Outperform” rating and $67 price target. The rating was maintained by B. Riley & Co on Wednesday, September 28 with “Neutral”. The firm has “Buy” rating given on Thursday, December 17 by Jefferies. The rating was maintained by UBS on Wednesday, June 29 with “Buy”. As per Wednesday, September 28, the company rating was maintained by Stifel Nicolaus. The firm has “Overweight” rating by JP Morgan given on Wednesday, June 29. The stock has “Buy” rating given by Guggenheim on Friday, September 30. As per Thursday, October 13, the company rating was maintained by Canaccord Genuity.

According to Zacks Investment Research, “Nike, Inc.’s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. NIKE is the one of the largest sellers of athletic footwear and athletic apparel in the world. The company sells its products to retail accounts in the United States and through a mix of independent distributors, licensees and subsidiaries in numerous countries around the world.”

Insitutional Activity: The institutional sentiment increased to 0.94 in 2016 Q2. Its up 0.07, from 0.87 in 2016Q1. The ratio is positive, as 116 funds sold all Nike Inc shares owned while 470 reduced positions. 98 funds bought stakes while 413 increased positions. They now own 1.02 billion shares or 2.98% less from 1.05 billion shares in 2016Q1.
Senator Group L P owns 1.33 million shares or 1.17% of their US portfolio. State Board Of Administration Of Florida Retirement System has invested 0.34% of its portfolio in Nike Inc (NYSE:NKE). Grimes & holds 0.04% or 4,866 shares in its portfolio. Strategic Wealth Advisors Group Ltd Liability Company holds 23,481 shares or 0.24% of its portfolio. Davy Asset Management holds 101,534 shares or 1.15% of its portfolio. Ifc Fl holds 0.03% or 4,479 shares in its portfolio. Main Street Rech Ltd Liability Company accumulated 10,004 shares or 0.11% of the stock. Sii Incorporated Wi has 19,342 shares for 0.09% of their US portfolio. Nomura Hldgs Incorporated owns 17,907 shares or 0% of their US portfolio. Dynamic Capital Mgmt Ltd has 0.27% invested in the company for 41,083 shares. Arrow Corp has 10,865 shares for 0.16% of their US portfolio. Tiemann Invest Advsrs Lc reported 6,620 shares or 0.34% of all its holdings. Ashfield Cap Prtn Limited Liability Co accumulated 0.45% or 101,064 shares. Agran Libbie owns 39,041 shares or 0.54% of their US portfolio. Stratos Wealth Prtnrs Ltd has 49,654 shares for 0.2% of their US portfolio.

Insider Transactions: Since July 1, 2016, the stock had 2 insider purchases, and 3 insider sales for $17.26 million net activity. LECHLEITER JOHN C had bought 1,000 shares worth $52,717 on Friday, September 30. Another trade for 150,000 shares valued at $7.47 million was made by PARKER MARK G on Tuesday, November 1. 72,696 Nike Inc (NYSE:NKE) shares with value of $4.20 million were sold by Slusher John F. Krane Hilary K sold 100,000 shares worth $5.70M.

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company has a market cap of $84.39 billion. The Company’s operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. It has a 23.09 P/E ratio. The Company’s portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

NKE Company Profile

NIKE, Inc., incorporated on September 8, 1969, is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. The Company’s portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse. The Firm sells its products to retail accounts, through its retail stores and Internet Websites, and through a mix of independent distributors and licensees across the world. The Company’s products are manufactured by independent contractors.

More notable recent Nike Inc (NYSE:NKE) news were published by: Investorplace.com which released: “Should You Buy Nike Inc (NKE) Stock? 3 Pros, 3 Cons” on November 22, 2016, also Fool.com with their article: “Better Buy: Fitbit Inc vs. Nike Inc” published on November 15, 2016, Investorplace.com published: “Nike Inc (NKE) Stock Boosts Dividend, Shareholder Confidence” on November 21, 2016. More interesting news about Nike Inc (NYSE:NKE) were released by: Investorplace.com and their article: “Nike Inc (NKE) Stock Can’t Count on a Save From Santa Claus” published on November 16, 2016 as well as Investorplace.com‘s news article titled: “Nike Inc (NKE) Stock Is Ready for a BIG Comeback” with publication date: October 31, 2016.

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