NIKE (NYSE:NKE) Stock Price Down 1.6% After Insider Selling

NIKE, Inc. (NYSE:NKE - Get Free Report)'s stock price dropped 1.6% on Friday following insider selling activity. The company traded as low as $91.80 and last traded at $91.88. Approximately 2,871,285 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 9,080,177 shares. The stock had previously closed at $93.39.Specifically, VP Johanna Nielsen sold 282 shares of the company's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company's stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company's stock, valued at $4,236,917.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the company's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company's stock, valued at $68,357.20. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. Williams Trading reaffirmed a "sell" rating and set a $85.00 price target (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Telsey Advisory Group lowered their price target on shares of NIKE from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, March 18th. Wells Fargo & Company dropped their price objective on NIKE from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, March 22nd. HSBC cut their price target on shares of NIKE from $120.00 to $115.00 and set a "hold" rating on the stock in a report on Monday, January 22nd. Finally, Barclays reduced their target price on NIKE from $142.00 to $114.00 and set an "overweight" rating on the stock in a report on Monday, March 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $116.26.

NIKE Stock Down 2.6 %

The firm's 50 day moving average price is $94.86 and its 200-day moving average price is $102.78. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a market cap of $137.23 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts' expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities research analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.63%. NIKE's dividend payout ratio is 43.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of NIKE during the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker's stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors boosted its position in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker's stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Newport Trust Company LLC bought a new position in shares of NIKE during the third quarter worth about $679,775,000. Finally, Jennison Associates LLC grew its holdings in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker's stock worth $832,623,000 after buying an additional 2,775,510 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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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