Insider Selling: NIKE (NYSE:NKE) EVP Sells $803,439.64 in Stock

NIKE, Inc. (NYSE:NKE) EVP Philip Mccartney sold 17,398 shares of the company’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 owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Price Performance

Shares of NYSE NKE opened at $44.90 on Monday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The company has a 50 day simple moving average of $44.26 and a two-hundred day simple moving average of $55.40. The company has a market capitalization of $66.49 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Analysts expect that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. 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 payout ratio is presently 108.61%.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Recent coverage highlighted Nike’s “running revival,” suggesting improving momentum in its running category could help refresh the growth story and support a longer-term turnaround. How Nike’s Running Revival Changes The Nike Stock Story
• Neutral Sentiment: Nike’s World Cup marketing push is aimed at strengthening brand visibility versus Adidas, but it is more of a strategic brand-building effort than an immediate earnings catalyst. Nike’s World Cup play: take on Adidas and revitalize the brand
• Neutral Sentiment: EVP Philip McCartney sold 17,398 shares under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards, which is routine but still adds to investor caution around insider activity. SEC filing
• Negative Sentiment: RBC Capital and other commentators downgraded Nike or reiterated skepticism, arguing the turnaround is progressing more slowly than expected and raising concerns about margins, profit goals, and the pace of operational improvement. Nike (NKE) was downgraded to a Hold Rating at RBC Capital
• Negative Sentiment: Recent market commentary said Nike is “still running in place” and has limited time to prove its turnaround, reinforcing worries that the stock may remain range-bound until fundamentals improve. Nike still running in place as turnaround taking longer than expected — RBC Capital

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Truist Financial reduced their price target on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price target (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research report on Monday, May 11th. DZ Bank restated a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. Finally, Guggenheim reduced their price objective on shares of NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. E Wealth Partners LLC bought a new stake in NIKE in the 1st quarter worth about $279,000. FAS Wealth Partners Inc. raised its position in NIKE by 4.2% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock worth $323,000 after buying an additional 249 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in NIKE by 43.2% during 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 during the period. Honeycomb Asset Management LP bought a new position in NIKE during the 1st quarter valued at about $1,258,000. Finally, Allen Capital Group LLC boosted its holdings 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 last quarter. 64.25% of the stock is owned by institutional investors.

About NIKE

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).