NIKE (NYSE:NKE) CEO Elliott Hill Acquires 16,388 Shares of Stock

NIKE, Inc. (NYSE:NKEGet Free Report) CEO Elliott Hill bought 16,388 shares of the stock in a transaction dated Monday, December 29th. The shares were purchased at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the purchase, the chief executive officer owned 241,587 shares in the company, valued at approximately $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NIKE Price Performance

Shares of NIKE stock opened at $61.16 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The business has a 50-day moving average price of $63.93 and a 200 day moving average price of $69.35. The firm has a market cap of $90.41 billion, a PE ratio of 35.98, a P/E/G ratio of 2.62 and a beta of 1.29.

NIKE (NYSE:NKEGet Free Report) last issued its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is presently 96.47%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial reiterated a “market perform” rating on shares of NIKE in a report on Monday, December 15th. KeyCorp set a $90.00 target price on NIKE and gave the company an “overweight” rating in a report on Thursday, October 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of NIKE in a research note on Friday, December 12th. Finally, Sanford C. Bernstein set a $85.00 price objective on NIKE and gave the company an “outperform” rating in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.84.

Check Out Our Latest Report on NIKE

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

Institutional Trading of NIKE

Large investors have recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC raised its stake in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in NIKE in the 2nd quarter valued at about $31,000. Matrix Trust Co grew its stake in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

About NIKE

(Get Free Report)

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).

Further Reading

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

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