Mark G. Parker Sells 110,000 Shares of NIKE, Inc. (NYSE:NKE) Stock

NIKE, Inc. (NYSE:NKE - Get Free Report) Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NIKE Trading Up 1.3%

Shares of NYSE NKE traded up $0.92 during mid-day trading on Thursday, hitting $73.02. 9,175,057 shares of the company traded hands, compared to its average volume of 15,119,949. The business has a 50 day moving average of $64.92 and a two-hundred day moving average of $67.30. The stock has a market capitalization of $108.00 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.65 and a beta of 1.25. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 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 during the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the company posted $0.99 earnings per share. The business's revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. NIKE's payout ratio is currently 74.07%.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Wellington Management Group LLP increased its stake in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. lifted its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after buying an additional 347,178 shares during the period. Finally, Capital World Investors boosted its stake in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Stifel Nicolaus cut their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Wall Street Zen cut NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Morgan Stanley increased their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.15.

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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