NIKE (NYSE:NKE) COO Venkatesh Alagirisamy Sells 3,671 Shares of Stock

NIKE, Inc. (NYSE:NKE) COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the sale, the chief operating officer owned 104,862 shares in the company, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Venkatesh Alagirisamy also recently made the following trade(s):

• On Wednesday, August 5th, Venkatesh Alagirisamy sold 890 shares of NIKE stock. The shares were sold at an average price of $41.60, for a total value of $37,024.00.

NIKE Trading Down 2.1%

NKE stock traded down $0.78 on Thursday, reaching $36.57. The company’s stock had a trading volume of 29,815,037 shares, compared to its average volume of 21,990,969. The firm has a market cap of $54.25 billion, a PE ratio of 17.50, a PEG ratio of 1.87 and a beta of 1.10. The business has a fifty day simple moving average of $41.34 and a two-hundred day simple moving average of $45.58. NIKE, Inc. has a 12-month low of $36.55 and a 12-month high of $76.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

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

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in NKE. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE in the 4th quarter worth approximately $26,000. Sankala Group LLC bought a new stake in NIKE in the fourth quarter worth $26,000. J.Safra Asset Management Corp bought a new stake in NIKE in the fourth quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of NIKE in the fourth quarter worth $30,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of NIKE in the first quarter worth $25,000. Institutional investors own 64.25% of the company’s stock.

NIKE News Roundup

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NKE shares. Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a report on Thursday, June 4th. Rothschild & Co Redburn lowered their target price on NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research note on Friday, July 17th. DZ Bank restated a “buy” rating on shares of NIKE in a research report on Tuesday, June 30th. China Renaissance reduced their price target on NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. Finally, Stifel Nicolaus set a $45.00 price objective on NIKE and gave the stock a “hold” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.