NIKE (NYSE:NKE) Shares Down 0.5% Following Insider Selling

Shares of NIKE, Inc. (NYSE:NKEGet Free Report) dropped 0.5% on Wednesday following insider selling activity. The company traded as low as $92.73 and last traded at $93.31. Approximately 1,058,707 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 9,133,153 shares. The stock had previously closed at $93.78.

Specifically, VP Johanna Nielsen sold 282 shares of NIKE 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the business’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 completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Telsey Advisory Group reduced 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. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. The Goldman Sachs Group cut their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Piper Sandler cut their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

Check Out Our Latest Report on NIKE

NIKE Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a 50 day simple moving average of $94.86 and a two-hundred day simple moving average of $102.78. The company has a market cap of $137.23 billion, a PE ratio of 26.74, a PEG ratio of 1.80 and a beta of 1.07.

NIKE (NYSE:NKEGet Free Report) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

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

Hedge Funds Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the company. Excalibur Management Corp boosted its holdings in NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after buying an additional 98 shares during the last quarter. Cairn Investment Group Inc. boosted its holdings in NIKE by 4.2% during the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after buying an additional 100 shares during the last quarter. Tiemann Investment Advisors LLC boosted its holdings in NIKE by 3.1% during the third quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock worth $319,000 after buying an additional 100 shares during the last quarter. Piscataqua Savings Bank boosted its holdings in NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after buying an additional 100 shares during the last quarter. Finally, Physicians Financial Services Inc. boosted its holdings in NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

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.

Further Reading

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