NIKE (NYSE:NKE) EVP Sells 17,398 Shares

NIKE, Inc. (NYSE:NKE) EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NIKE Stock Performance

NIKE stock traded down $1.06 during mid-day trading on Friday, hitting $44.90. 16,506,441 shares of the company’s stock traded hands, compared to its average volume of 19,799,979. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The firm has a 50 day simple moving average of $44.26 and a two-hundred day simple moving average of $55.52. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The stock has a market cap of $66.49 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 1.90 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, research analysts expect that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE’s dividend payout ratio is 108.61%.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Williams Trading decreased their price target on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Evercore decreased their price target on shares of NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Stifel Nicolaus lowered their price objective on NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 target price (down from $60.00) on shares of NIKE in a report on Friday, April 10th. Fifteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Hold” and a consensus price target of $60.89.

Institutional Investors Weigh In On NIKE

Several institutional investors have recently made changes to their positions in NKE. E Wealth Partners LLC acquired a new stake in NIKE during the first quarter worth approximately $279,000. FAS Wealth Partners Inc. increased its stake in NIKE by 4.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock worth $323,000 after acquiring an additional 249 shares during the period. Pine Valley Investments Ltd Liability Co raised its holdings in NIKE by 43.2% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 41,295 shares of the footwear maker’s stock valued at $2,182,000 after acquiring an additional 12,464 shares in the last quarter. Honeycomb Asset Management LP acquired a new position in NIKE in the 1st quarter valued at $1,258,000. Finally, Allen Capital Group LLC lifted its position in shares of NIKE by 8.0% during the 1st quarter. Allen Capital Group LLC now owns 62,937 shares of the footwear maker’s stock valued at $3,324,000 after acquiring an additional 4,687 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).