NIKE (NYSE:NKE) Trading Down 0.2% on Insider Selling

NIKE, Inc. (NYSE:NKE)’s stock price fell 0.2% during trading on Thursday following insider selling activity. The company traded as low as $93.01 and last traded at $93.44. 1,702,080 shares were traded during mid-day trading, a decline of 81% from the average session volume of 9,099,063 shares. The stock had previously closed at $93.59.

Specifically, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI dropped their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective on the stock. in a report on Friday, February 16th. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Finally, Telsey Advisory Group cut their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. 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 company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Trading Down 0.1 %

The firm’s 50-day moving average price is $95.28 and its 200 day moving average price is $102.91. The company has a market cap of $141.19 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its quarterly 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. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC lifted its stake in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter worth $33,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.