NIKE (NYSE:NKE) EVP Philip Mccartney Sells 2,559 Shares

NIKE, Inc. (NYSE:NKE) EVP Philip McCartney sold 2,559 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. The trade was a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philip Mccartney also recently made the following trade(s):

• On Wednesday, August 5th, Philip McCartney sold 524 shares of NIKE stock. The stock was sold at an average price of $41.60, for a total transaction of $21,798.40.
• On Friday, June 12th, Philip McCartney sold 17,398 shares of NIKE stock. The stock was sold at an average price of $46.18, for a total value of $803,439.64.

NIKE Trading Down 2.1%

NYSE NKE opened at $36.57 on Friday. The firm has a market cap of $54.25 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. NIKE, Inc. has a 1-year low of $36.55 and a 1-year high of $76.97. The stock has a 50-day moving average of $41.19 and a 200-day moving average of $45.38. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the firm earned $0.14 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.5%. NIKE’s payout ratio is presently 78.47%.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Scarborough Advisors LLC purchased a new position in NIKE in the 1st quarter worth about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its position in NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares during the period. Finally, J.Safra Asset Management Corp bought a new position in NIKE during the fourth quarter valued at approximately $29,000. Institutional investors own 64.25% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Shareholders approved an expanded employee stock purchase plan adopted by NIKE’s board in July. The plan could support employee retention, although the potential for additional share issuance may limit its benefit to existing investors. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: Some commentary argues that NIKE’s underlying business is not fundamentally broken and that its depressed valuation and dividend yield could appeal to long-term investors, though a turnaround remains necessary. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
• Negative Sentiment: Morgan Stanley warned that the pain may not be over, citing persistent operating weakness, disappointing share performance and NIKE’s imminent removal from the S&P 100. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO initiated coverage with an Underperform rating, pointing to challenges facing NIKE and the broader athletic-apparel market. The new bearish call adds to pressure on the stock. BMO Says Sell Nike Stock
• Negative Sentiment: NIKE is set to lose its S&P 100 membership after nearly 18 years, a high-profile consequence of its severe decline that could reduce index-related demand and reinforce negative sentiment. Nike Loses Its S&P 100 Membership
• Negative Sentiment: Analysts continue to cite shifting consumer preferences, intense competition and NIKE’s broad product and market exposure as structural challenges, leaving investors concerned that a recovery could take time. Shifting Consumer Preferences Continue to Impact Nike and Lululemon

Analysts Set New Price Targets

A number of research analysts have weighed in on NKE shares. DZ Bank reiterated a “buy” rating on shares of NIKE in a report on Tuesday, June 30th. UBS Group reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday. Berenberg Bank set a $49.00 target price on NIKE and gave the stock a “hold” rating in a report on Friday, July 3rd. Stifel Nicolaus set a $45.00 target price on NIKE and gave the stock a “hold” rating in a research note on Wednesday, July 1st. Finally, Rothschild & Co Redburn reduced their price target on NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, NIKE has an average rating of “Hold” and a consensus price target of $50.12.

About NIKE

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.