NIKE (NYSE:NKE) Shares Down 0.2% After Insider Selling

NIKE, Inc. (NYSE:NKE) was down 0.2% on Thursday after an insider sold shares in the company. The company traded as low as $93.01 and last traded at $93.44. Approximately 1,702,080 shares were traded during trading, a decline of 81% from the average daily volume of 9,099,063 shares. The stock had previously closed at $93.59.

Specifically, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NKE shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Barclays decreased their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Oppenheimer downgraded NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a report on Friday, February 16th. Finally, Sanford C. Bernstein decreased their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

The business has a 50-day moving average price of $95.07 and a two-hundred day moving average price of $102.84. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $140.96 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. NIKE’s dividend payout ratio is presently 43.53%.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in NKE. Norges Bank bought a new stake in NIKE during the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD grew its stake in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors grew its stake in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Newport Trust Company LLC purchased a new stake in shares of NIKE in the third quarter valued at about $679,775,000. Finally, Jennison Associates LLC lifted its position in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

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.