NIKE (NYSE:NKE) Shares Down 0.7% Following Insider Selling

NIKE, Inc. (NYSE:NKE - Get Free Report)'s stock price dropped 0.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $91.75 and last traded at $92.14. Approximately 4,299,775 shares were traded during trading, a decline of 53% from the average daily volume of 9,083,946 shares. The stock had previously closed at $92.79.Specifically, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the company's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on NKE shares. Telsey Advisory Group dropped their price objective on shares of NIKE from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, March 18th. Sanford C. Bernstein lowered their price target on shares of NIKE from $134.00 to $120.00 and set an "outperform" rating on the stock in a report on Friday, March 22nd. The Goldman Sachs Group reduced their price objective on NIKE from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Citigroup decreased their price objective on NIKE from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, March 14th. Finally, Barclays dropped 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 equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.26.

NIKE Stock Down 1.2 %

The stock has a market capitalization of $138.39 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The business's 50-day moving average is $94.39 and its two-hundred day moving average is $102.58.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE's dividend payout ratio (DPR) is currently 43.53%.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in NIKE during the fourth quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD raised its position in shares of NIKE by 87.5% during the 4th 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 buying an additional 7,996,434 shares during the period. Capital International Investors lifted its holdings in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker's stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Newport Trust Company LLC purchased a new position in NIKE in the third quarter worth approximately $679,775,000. Finally, Longview Partners Guernsey LTD purchased a new position in NIKE in the first quarter worth approximately $533,533,000. 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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