Insider Selling: NIKE (NYSE:NKE) Insider Sells $204,657.35 in Stock

Key Points

• NIKE insider Amy Montagne sold 4,867 shares for approximately $204,657, reducing her position by 7.81% while retaining 57,436 shares.
• NIKE shares fell 1.9% to $41.29, near the stock’s 52-week low. The company beat quarterly earnings and revenue estimates, but revenue declined 1.1% year over year.
• NIKE declared a quarterly dividend of $0.41 per share, equivalent to an annualized $1.64 and a 4.0% yield. Analysts maintain a consensus “Hold” rating with a $53.53 price target.

NIKE, Inc. (NYSE:NKE - Get Free Report) insider Amy Montagne sold 4,867 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the transaction, the insider directly owned 57,436 shares of the company's stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NIKE Trading Down 1.9%

NYSE NKE traded down $0.82 during trading hours on Tuesday, hitting $41.29. 25,292,023 shares of the company were exchanged, compared to its average volume of 21,008,256. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $43.11 and a 200 day moving average price of $49.30. The stock has a market cap of $61.25 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11.

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

NIKE Dividend Announcement

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 dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. NIKE's payout ratio is currently 78.47%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of NIKE from $90.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Robert W. Baird reiterated an "outperform" rating and issued a $70.00 target price on shares of NIKE in a report on Wednesday, July 1st. Oppenheimer cut their price target on NIKE from $120.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, June 26th. CICC Research lowered their price objective 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. Finally, Argus raised shares of NIKE to a "strong-buy" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of "Hold" and a consensus price target of $53.53.

Institutional Trading of NIKE

A number of institutional investors have recently bought and sold shares of NKE. Scarborough Advisors LLC acquired a new stake in shares of NIKE during the first quarter worth $25,000. Cornerstone Financial Management LLC purchased a new position in NIKE in the 4th quarter worth $26,000. Sankala Group LLC acquired a new stake in NIKE during the 4th quarter worth about $26,000. Meeder Asset Management Inc. grew its stake in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in NIKE during the 4th quarter valued at about $29,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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