Nike Inc (NYSE:NKE) CEO Mark G. Parker Sells 165,000 Shares of Stock

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Nike Inc (NYSE:NKE) CEO Mark G. Parker sold 165,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $93.55, for a total transaction of $15,435,750.00. Following the transaction, the chief executive officer now owns 2,046,040 shares of the company’s stock, valued at $191,407,042. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NKE opened at $92.46 on Wednesday. The company has a 50-day simple moving average of $92.34 and a 200-day simple moving average of $87.15. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $144.33 billion, a PE ratio of 37.13, a P/E/G ratio of 2.41 and a beta of 0.83. Nike Inc has a 52-week low of $66.53 and a 52-week high of $96.87.

Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 24th. The footwear maker reported $0.86 EPS for the quarter, topping the consensus estimate of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same period in the previous year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Nike Inc will post 2.97 EPS for the current year.

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 given a dividend of $0.245 per share. This is an increase from Nike’s previous quarterly dividend of $0.22. This represents a $0.98 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, November 29th. Nike’s payout ratio is currently 39.36%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Main Street Research LLC lifted its stake in shares of Nike by 3.3% during the 3rd quarter. Main Street Research LLC now owns 3,440 shares of the footwear maker’s stock worth $323,000 after purchasing an additional 109 shares during the period. Asset Dedication LLC boosted its position in shares of Nike by 0.6% in the third quarter. Asset Dedication LLC now owns 20,144 shares of the footwear maker’s stock worth $1,898,000 after buying an additional 114 shares during the period. SlateStone Wealth LLC grew its position in shares of Nike by 0.5% during the third quarter. SlateStone Wealth LLC now owns 22,341 shares of the footwear maker’s stock worth $2,098,000 after buying an additional 115 shares in the last quarter. Strategic Advisors LLC increased its holdings in shares of Nike by 3.3% in the 3rd quarter. Strategic Advisors LLC now owns 3,713 shares of the footwear maker’s stock valued at $349,000 after acquiring an additional 118 shares during the last quarter. Finally, Trustcore Financial Services LLC boosted its stake in Nike by 2.9% during the 2nd quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock valued at $358,000 after purchasing an additional 120 shares during the period. 65.12% of the stock is owned by institutional investors.

Several research analysts recently weighed in on NKE shares. Guggenheim restated a “buy” rating on shares of Nike in a research report on Wednesday, November 13th. Pivotal Research boosted their price objective on Nike from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Susquehanna Bancshares set a $106.00 target price on Nike and gave the company a “buy” rating in a report on Tuesday, October 8th. Credit Suisse Group restated a “buy” rating and issued a $112.00 target price on shares of Nike in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their target price on shares of Nike from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $97.69.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Further Reading: What is a Reverse Stock Split?

Insider Buying and Selling by Quarter for Nike (NYSE:NKE)

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