Philip Mccartney Sells 2,559 Shares of NIKE (NYSE:NKE) Stock

NIKE, Inc. (NYSE:NKE) EVP Philip McCartney sold 2,559 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares of the company’s stock, valued at approximately $2,936,568.39. The trade was a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philip Mccartney also recently made the following trade(s):

• On Wednesday, August 5th, Philip McCartney sold 524 shares of NIKE stock. The stock was sold at an average price of $41.60, for a total transaction of $21,798.40.
• On Friday, June 12th, Philip McCartney sold 17,398 shares of NIKE stock. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64.

NIKE Stock Performance

NYSE NKE traded down $0.78 during trading 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 company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $54.25 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. NIKE, Inc. has a 12 month low of $36.55 and a 12 month high of $76.97. The firm has a 50 day moving average price of $41.34 and a 200 day moving average price of $45.58.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NKE shares. Evercore set a $46.00 target price on NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research note on Tuesday, August 25th. Weiss Ratings raised shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. UBS Group reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 1st. One investment 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. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and a consensus price target of $50.12.

Key Headlines Impacting NIKE

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

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC acquired a new stake in NIKE in the first quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in shares of NIKE in the fourth quarter worth about $26,000. Sankala Group LLC bought a new position in shares of NIKE in the fourth quarter worth about $26,000. Meeder Asset Management Inc. boosted its stake in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $29,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Company Profile

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.