Insider Selling: Nike Inc (NYSE:NKE) Insider Sells 40,004 Shares of Stock

Nike Inc (NYSE:NKE) insider Eric D. Sprunk sold 40,004 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of NYSE NKE traded up $0.97 during midday trading on Friday, reaching $83.95. The stock had a trading volume of 5,444,196 shares, compared to its average volume of 6,696,908. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. The stock has a market cap of $130.42 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.50 and a beta of 0.67. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that Nike Inc will post 2.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.05%. Nike’s dividend payout ratio is 36.36%.

Large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its position in Nike by 6,517.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after purchasing an additional 34,749,961 shares during the last quarter. Norges Bank bought a new position in Nike during the fourth quarter valued at $892,899,000. BlackRock Inc. lifted its position in Nike by 4.3% during the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after purchasing an additional 3,592,186 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Nike during the fourth quarter valued at $224,658,000. Finally, AQR Capital Management LLC lifted its position in Nike by 352.5% during the third quarter. AQR Capital Management LLC now owns 3,839,908 shares of the footwear maker’s stock valued at $325,317,000 after purchasing an additional 2,991,299 shares during the last quarter. Hedge funds and other institutional investors own 65.78% of the company’s stock.

Several research firms have recently weighed in on NKE. Bank of America boosted their price objective on shares of Nike from $55.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, March 19th. Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Nike from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Goldman Sachs Group set a $85.00 target price on shares of Nike and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 target price on shares of Nike and gave the company a “buy” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $87.10.

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Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Insider Buying and Selling by Quarter for Nike (NYSE:NKE)

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