Insider Buying: NIKE (NYSE:NKE) CEO Buys 16,388 Shares of Stock

NIKE, Inc. (NYSE:NKE) CEO Elliott Hill acquired 16,388 shares of the stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the transaction, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

NIKE Stock Performance

Shares of NIKE stock traded down $0.05 during trading on Tuesday, reaching $61.16. The company’s stock had a trading volume of 13,087,954 shares, compared to its average volume of 16,575,660. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $64.08 and its 200-day moving average price is $69.35. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The firm has a market cap of $90.41 billion, a PE ratio of 35.98, a P/E/G ratio of 2.61 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. During the same period last year, the firm earned $0.78 earnings per share. NIKE’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.41 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.7%. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. KeyCorp set a $90.00 price objective on NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein set a $85.00 target price on NIKE and gave the stock an “outperform” rating in a report on Friday, December 19th. BNP Paribas Exane dropped their price target on NIKE from $38.00 to $35.00 and set an “underperform” rating for the company in a research note on Friday, December 19th. Piper Sandler set a $75.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, Barclays set a $64.00 target price on shares of NIKE and gave the company an “equal weight” rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of NIKE by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 115,291,199 shares of the footwear maker’s stock valued at $8,039,255,000 after purchasing an additional 1,467,414 shares in the last quarter. State Street Corp increased its position in NIKE by 2.8% during the 2nd quarter. State Street Corp now owns 59,154,159 shares of the footwear maker’s stock worth $4,225,441,000 after purchasing an additional 1,590,603 shares in the last quarter. Capital World Investors lifted its stake in NIKE by 0.7% in the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker’s stock valued at $2,945,326,000 after purchasing an additional 286,615 shares during the last quarter. Invesco Ltd. lifted its stake in NIKE by 3.3% in the 3rd quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker’s stock valued at $875,902,000 after purchasing an additional 404,136 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in NIKE by 42.3% in the third quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock valued at $825,501,000 after buying an additional 3,518,666 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

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).