Insider Selling: NIKE, Inc. (NYSE:NKE) Chairman Sells 110,000 Shares of Stock

NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NIKE Price Performance

Shares of NKE opened at $73.02 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $65.21 and its 200-day simple moving average is $67.29. The firm has a market capitalization of $108.00 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.65 and a beta of 1.25. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 74.07%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NKE shares. Robert W. Baird raised their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Wells Fargo & Company increased their target price on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price target on shares of NIKE from $56.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.15.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Norges Bank purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP boosted its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Jennison Associates LLC acquired a new position in NIKE during the first quarter worth $509,051,000. Finally, Nuveen LLC purchased a new position in NIKE in the first quarter worth $502,285,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.