NIKE (NYSE:NKE) Chairman Sells $6,535,902.54 in Stock

Key Points

• Mark G. Parker, Chairman of NIKE, sold 86,078 shares at an average price of $75.93, resulting in a transaction total of over $6.5 million, which marks a 10.36% decrease in his ownership stake.
• NIKE's recent quarterly earnings report showed a net revenue of $11.10 billion, exceeding analysts' expectations, despite a year-over-year revenue decline of 11.9%.
• The company announced a quarterly dividend of $0.40 per share, which will be paid on October 1st, reflecting a 2.1% dividend yield with a payout ratio of 74.07%.

NIKE, Inc. (NYSE:NKE - Get Free Report) Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NIKE Stock Performance

NYSE NKE traded down $0.17 during midday trading on Thursday, hitting $76.09. The company had a trading volume of 4,223,074 shares, compared to its average volume of 16,646,373. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The stock has a market cap of $112.38 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.79 and a beta of 1.27. The firm has a fifty day simple moving average of $71.88 and a two-hundred day simple moving average of $67.69. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $10.69 billion. During the same period last year, the business posted $0.99 EPS. The business's quarterly revenue was down 11.9% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Hedge Funds Weigh In On NIKE

Institutional investors have recently modified their holdings of the stock. Stone House Investment Management LLC bought a new position in shares of NIKE in the first quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC grew its position in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after buying an additional 362 shares during the period. Finally, Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NKE. Argus upgraded shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Telsey Advisory Group reiterated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Citigroup lifted their target price on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.22.

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.