Venkatesh Alagirisamy Sells 3,671 Shares of NIKE (NYSE:NKE) Stock

NIKE, Inc. (NYSE:NKE) COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the transaction, the chief operating officer owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Venkatesh Alagirisamy also recently made the following trade(s):

• On Wednesday, August 5th, Venkatesh Alagirisamy sold 890 shares of NIKE stock. The stock was sold at an average price of $41.60, for a total value of $37,024.00.

NIKE Price Performance

NKE stock opened at $36.81 on Friday. The business’s 50-day moving average is $41.04 and its two-hundred day moving average is $45.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The firm has a market capitalization of $54.62 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.79 and a beta of 1.10. NIKE, Inc. has a 1 year low of $36.55 and a 1 year high of $76.97.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.5%. NIKE’s payout ratio is currently 78.47%.

Institutional Trading of NIKE

A number of large investors have recently bought and sold shares of NKE. The Manufacturers Life Insurance Company raised its holdings in shares of NIKE by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 640,889 shares of the footwear maker’s stock valued at $26,308,000 after buying an additional 11,884 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of NIKE by 48.4% during the second quarter. MCF Advisors LLC now owns 25,663 shares of the footwear maker’s stock worth $1,060,000 after buying an additional 8,370 shares during the last quarter. National Pension Service increased its position in NIKE by 8.7% in the 2nd quarter. National Pension Service now owns 3,088,640 shares of the footwear maker’s stock valued at $126,789,000 after acquiring an additional 247,230 shares during the period. WINTON GROUP Ltd raised its stake in NIKE by 63.0% during the 2nd quarter. WINTON GROUP Ltd now owns 43,923 shares of the footwear maker’s stock valued at $1,803,000 after acquiring an additional 16,978 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its stake in NIKE by 33.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 15,948 shares of the footwear maker’s stock valued at $655,000 after acquiring an additional 3,995 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts argue that NIKE’s core business remains viable despite weak sentiment. The depressed valuation and approximately 4.5% dividend yield could attract long-term investors if management can successfully restore growth. Nike Is Now Down 40% This Year
• Neutral Sentiment: NIKE shareholders approved an expanded employee stock purchase plan. The measure may help employee retention, although potential additional share issuance could dilute existing shareholders. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue expectations, but sales still declined year over year. Analysts currently expect about $1.74 in earnings per share for the full year, leaving the valuation dependent on a meaningful operational recovery.
• Negative Sentiment: Morgan Stanley warned that the selloff may continue, citing persistent operating weakness and disappointing performance. NIKE’s imminent removal from the S&P 100 may also reduce index-related demand and reinforce negative sentiment. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO Capital Markets issued a strongly bearish “Underperform”/“Strong Sell” view, adding to a series of negative Wall Street calls. Analysts continue to cite intense competition, shifting consumer preferences and broad product-market challenges. Nike Gains Another Bearish Call
• Negative Sentiment: Two senior executives sold shares worth approximately $234,000 combined under pre-arranged Rule 10b5-1 plans. The sales were relatively small and scheduled in advance, but they add to near-term caution among investors. NIKE Insider Selling

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of NIKE in a report on Thursday, June 4th. CICC Research lowered their target price on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Stifel Nicolaus set a $45.00 target price on NIKE and gave the company a “hold” rating in a report on Wednesday, July 1st. Jefferies Financial Group restated a “buy” rating on shares of NIKE in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of NIKE in a report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus price target of $50.12.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.