Insider Selling: NIKE (NYSE:NKE) EVP Sells 4,300 Shares of Stock

Key Points

• NIKE's EVP, Treasure Heinle, sold 4,300 shares at an average price of $71.27, totaling $306,461.00, resulting in a 12.76% decrease in their ownership stake.
• The company recently reported a quarterly earnings per share (EPS) of $0.49, exceeding analysts' estimates of $0.27, with revenue of $11.72 billion.
• NIKE's current dividend is $0.40 per share, with a dividend yield of 2.3%, and a payout ratio of 82.05%.

NIKE, Inc. (NYSE:NKE - Get Free Report) EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company's stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NIKE Price Performance

Shares of NYSE NKE traded down $2.14 during mid-day trading on Tuesday, reaching $69.03. The company's stock had a trading volume of 17,336,382 shares, compared to its average volume of 16,497,242. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The stock has a fifty day moving average of $74.46 and a two-hundred day moving average of $67.26. The firm has a market capitalization of $101.95 billion, a PE ratio of 35.40, a P/E/G ratio of 2.64 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. During the same period in the previous year, the firm earned $0.70 EPS. The firm's revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio is 82.05%.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. Goldman Sachs Group Inc. boosted its stake in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Norges Bank bought a new stake in NIKE during the 2nd quarter valued at $835,063,000. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of NIKE by 3,129.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker's stock worth $645,855,000 after purchasing an additional 8,809,950 shares during the last quarter. Finally, Harris Associates L P bought a new stake in shares of NIKE in the 2nd quarter valued at about $621,525,000. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. JPMorgan Chase & Co. upped their price objective on NIKE from $93.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Weiss Ratings restated a "sell (d+)" rating on shares of NIKE in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada upgraded NIKE from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.57.

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.

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