NIKE, Inc. (NYSE:NKE) Chairman Sells $12,361,581.56 in Stock

NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NIKE Stock Performance

NKE opened at $77.19 on Friday. The firm has a market cap of $114.17 billion, a P/E ratio of 23.82, a PEG ratio of 2.53 and a beta of 1.01. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.62. The company has a 50 day simple moving average of $74.33 and a two-hundred day simple moving average of $78.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. NIKE’s dividend payout ratio is 49.38%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NKE. Stifel Nicolaus decreased their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Guggenheim reiterated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada decreased their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE during the fourth quarter worth $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the third quarter worth $30,000. Roxbury Financial LLC bought a new position in shares of NIKE during the fourth quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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.