On April 25, 2023 at 12:00:11 ET an unusually large $213.46K block of Put contracts in Nike (NKE) was sold, with a strike price of $120.00 / share, expiring in 52 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.40 sigmas above the mean, placing it in the 91.85th percentile of all recent large trades made in NKE options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 3620 funds or institutions reporting positions in Nike. This is an increase of 194 owner(s) or 5.66% in the last quarter. Average portfolio weight of all funds dedicated to NKE is 0.55%, an increase of 4.81%. Total shares owned by institutions decreased in the last three months by 0.41% to 1,137,362K shares. The put/call ratio of NKE is 1.31, indicating a bearish outlook.

Analyst Price Forecast Suggests 8.35% Upside

As of April 24, 2023, the average one-year price target for Nike is $137.70. The forecasts range from a low of $98.98 to a high of $168.00. The average price target represents an increase of 8.35% from its latest reported closing price of $127.09.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Nike is $49,389MM, a decrease of 2.44%. The projected annual non-GAAP EPS is $3.01.

What are Other Shareholders Doing?

EPS – WisdomTree U.S. LargeCap Fund N holds 17K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 13K shares, representing an increase of 24.93%. The firm increased its portfolio allocation in NKE by 68.80% over the last quarter.

Janney Capital Management holds 55K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 62K shares, representing a decrease of 12.88%. The firm decreased its portfolio allocation in NKE by 99.89% over the last quarter.

Paladin Advisory Group holds 3K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

TANDX – Castle Tandem Fund Institutional holds 4K shares representing 0.00% ownership of the company. No change in the last quarter.

DTLVX – Large Company Value Portfolio Investment Class holds 4K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 5K shares, representing a decrease of 18.54%. The firm increased its portfolio allocation in NKE by 11.74% over the last quarter.

Nike Declares $0.34 Dividend

On February 9, 2023 the company declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Shareholders of record as of March 6, 2023 received the payment on April 3, 2023. Previously, the company paid $0.30 per share.

At the current share price of $127.09 / share, the stock’s dividend yield is 1.07%. Looking back five years and taking a sample every week, the average dividend yield has been 0.98%, the lowest has been 0.64%, and the highest has been 1.56%. The standard deviation of yields is 0.18 (n=237).

The current dividend yield is 0.50 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.38. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.39%, demonstrating that it has increased its dividend over time.

Nike Background Information
(This description is provided by the company.)

NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories.

See all Nike regulatory filings.

This article originally appeared on Fintel

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