NIKE, Inc. (NYSE:NKE) Chairman Sells $7,951,900.00 in Stock

NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on 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 completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NIKE Price Performance

NKE stock opened at $72.50 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a market cap of $107.24 billion, a P/E ratio of 33.56, a PEG ratio of 2.70 and a beta of 1.25. The firm has a 50-day moving average of $65.49 and a 200 day moving average of $67.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. NIKE’s revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, June 2nd. NIKE’s dividend payout ratio is 74.07%.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently made changes to their positions in the business. Stone House Investment Management LLC bought a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC increased its position in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank bought a new stake in shares of NIKE during the first quarter valued at approximately $30,000. Finally, EnRich Financial Partners LLC increased its position in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NKE. Citigroup increased their target price on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, June 27th. Wells Fargo & Company upped their price target on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Jefferies Financial Group restated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Telsey Advisory Group restated a “market perform” rating and set a $70.00 price target on shares of NIKE in a research report on Friday, June 27th. Finally, Barclays upped their price target on shares of NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued 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 stock has an average rating of “Moderate Buy” and an average price target of $77.15.

About NIKE

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.