Philip Mccartney Sells 2,559 Shares of NIKE (NYSE:NKE) Stock

Key Points

• NIKE EVP Philip McCartney sold 2,559 shares at an average price of $37.59, generating $96,192.81 under a pre-arranged Rule 10b5-1 plan. His remaining direct stake totaled 78,121 shares.
• NIKE shares fell to $36.57, near their 52-week low of $36.55, while the company reported quarterly revenue of $10.97 billion and EPS of $0.20, both ahead of analyst estimates.
• Investor sentiment remains cautious: analysts’ consensus rating is “Hold,” with a $50.12 average price target, amid concerns about operating weakness, competition and NIKE’s upcoming removal from the S&P 100. The company maintains a quarterly dividend of $0.41 per share, yielding about 4.5%.

NIKE, Inc. (NYSE:NKE - Get Free Report) EVP Philip McCartney sold 2,559 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the transaction, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philip Mccartney also recently made the following trade(s):

• On Wednesday, August 5th, Philip McCartney sold 524 shares of NIKE stock. The shares were sold at an average price of $41.60, for a total value of $21,798.40.
• On Friday, June 12th, Philip McCartney sold 17,398 shares of NIKE stock. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64.

NIKE Stock Performance

NYSE NKE traded down $0.78 on Thursday, hitting $36.57. 29,815,037 shares of the stock were exchanged, compared to its average volume of 21,990,969. The company has a market capitalization of $54.25 billion, a PE ratio of 17.50, a P/E/G ratio of 1.87 and a beta of 1.10. 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 business's fifty day moving average is $41.34 and its 200 day moving average is $45.58. NIKE, Inc. has a 52 week low of $36.55 and a 52 week high of $76.97.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.41 per share. 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 dividend payout ratio (DPR) is presently 78.47%.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Shareholders approved an expanded employee stock purchase plan adopted by NIKE’s board in July. The plan could support employee retention, although the potential for additional share issuance may limit its benefit to existing investors. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: Some commentary argues that NIKE’s underlying business is not fundamentally broken and that its depressed valuation and dividend yield could appeal to long-term investors, though a turnaround remains necessary. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
• Negative Sentiment: Morgan Stanley warned that the pain may not be over, citing persistent operating weakness, disappointing share performance and NIKE’s imminent removal from the S&P 100. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO initiated coverage with an Underperform rating, pointing to challenges facing NIKE and the broader athletic-apparel market. The new bearish call adds to pressure on the stock. BMO Says Sell Nike Stock
• Negative Sentiment: NIKE is set to lose its S&P 100 membership after nearly 18 years, a high-profile consequence of its severe decline that could reduce index-related demand and reinforce negative sentiment. Nike Loses Its S&P 100 Membership
• Negative Sentiment: Analysts continue to cite shifting consumer preferences, intense competition and NIKE’s broad product and market exposure as structural challenges, leaving investors concerned that a recovery could take time. Shifting Consumer Preferences Continue to Impact Nike and Lululemon

Institutional Investors Weigh In On NIKE

Institutional investors have recently made changes to their positions in the company. Main Street Financial Solutions LLC grew its position in shares of NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after purchasing an additional 139 shares during the last quarter. ANB Bank lifted its holdings in NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker's stock worth $1,621,000 after purchasing an additional 165 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in NIKE by 4.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker's stock valued at $253,000 after purchasing an additional 169 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in NIKE by 14.1% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 1,416 shares of the footwear maker's stock valued at $90,000 after purchasing an additional 175 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in NIKE by 0.8% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 23,293 shares of the footwear maker's stock valued at $1,624,000 after buying an additional 181 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NKE. Rothschild & Co Redburn cut their price objective on NIKE from $45.00 to $37.00 and set a "sell" rating for the company in a research report on Friday, July 17th. Truist Financial set a $42.00 target price on NIKE and gave the stock a "hold" rating in a report on Wednesday, August 26th. Citigroup restated a "neutral" rating on shares of NIKE in a research note on Wednesday, July 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of NIKE in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NIKE from $43.00 to $45.00 and gave the stock a "hold" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $50.12.

About NIKE

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.

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