Insider Selling: Nike Inc (NYSE:NKE) Insider Sells $3,012,394.00 in Stock

Nike Inc (NYSE:NKE) insider Elliott Hill sold 34,100 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nike stock opened at $89.12 on Friday. The business’s 50 day moving average price is $83.61. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The company has a market cap of $138.77 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.34 and a beta of 0.78. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the business earned $0.69 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Nike Inc will post 2.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, May 31st. Nike’s payout ratio is 35.34%.

NKE has been the topic of several recent research reports. Goldman Sachs Group lowered shares of Anaplan from a “buy” rating to a “neutral” rating and set a $53.20 target price on the stock. in a research note on Monday, July 1st. Deutsche Bank set a $28.00 target price on shares of Colfax and gave the company a “hold” rating in a research note on Wednesday. Wells Fargo & Co reaffirmed a “hold” rating and issued a $160.00 target price on shares of Willis Towers Watson in a research note on Friday, March 22nd. Morgan Stanley set a $103.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating and raised their target price for the company from $22.00 to $25.00 in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $89.86.

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Nike during the 4th quarter worth approximately $892,899,000. FMR LLC raised its holdings in Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after buying an additional 4,908,916 shares during the period. Squarepoint Ops LLC acquired a new stake in Nike during the 4th quarter worth approximately $81,064,000. American Century Companies Inc. raised its holdings in Nike by 19.7% during the 4th quarter. American Century Companies Inc. now owns 6,357,307 shares of the footwear maker’s stock worth $471,331,000 after buying an additional 1,047,428 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Nike by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 17,065,913 shares of the footwear maker’s stock worth $1,263,116,000 after buying an additional 796,906 shares during the period. 65.60% of the stock is currently owned by institutional investors and hedge funds.

About Nike

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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