Insider Selling: NIKE, Inc. (NYSE:NKE) Chairman Sells 169,732 Shares of Stock

NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NIKE Stock Up 6.2 %

NIKE stock traded up $4.50 during mid-day trading on Tuesday, reaching $77.54. 28,185,522 shares of the company were exchanged, compared to its average volume of 13,278,299. The business has a fifty day moving average of $74.37 and a 200 day moving average of $78.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $114.70 billion, a P/E ratio of 23.93, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $106.62.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company 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%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NKE shares. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. BMO Capital Markets boosted their price objective on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Stifel Nicolaus reduced their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Hedge Funds Weigh In On NIKE

A number of large investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP increased its position in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors increased its position in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.