NIKE (NYSE:NKE) Insider Sells $204,657.35 in Stock

NIKE, Inc. (NYSE:NKE) insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.82 during midday trading on Tuesday, reaching $41.29. The company’s stock had a trading volume of 25,292,023 shares, compared to its average volume of 21,008,256. The firm has a market capitalization of $61.25 billion, a PE ratio of 19.76, a P/E/G ratio of 1.85 and a beta of 1.11. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The stock has a fifty day moving average of $43.11 and a 200 day moving average of $49.30. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Hedge Funds Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in NKE. Scarborough Advisors LLC acquired a new stake in shares of NIKE in the first quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new position in shares of NIKE during the 4th quarter worth about $26,000. Sankala Group LLC purchased a new position in NIKE in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. lifted its stake in NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after buying an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in NIKE in the 4th quarter worth about $29,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a report on Tuesday, June 30th. HSBC downgraded NIKE from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $48.00 in a report on Monday, April 13th. Zacks Research cut shares of NIKE from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. Citigroup reaffirmed a “neutral” rating on shares of NIKE in a report on Wednesday, July 22nd. Finally, Berenberg Bank set a $49.00 target price on shares of NIKE and gave the company a “hold” rating in a research note on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and an average price target of $53.53.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).