Philip Mccartney Sells 17,398 Shares of NIKE (NYSE:NKE) Stock

NIKE, Inc. (NYSE:NKE) EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NIKE Stock Performance

Shares of NKE stock opened at $44.90 on Friday. The firm has a market cap of $66.49 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The firm’s 50-day simple moving average is $44.26 and its two-hundred day simple moving average is $55.45.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is 108.61%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NKE. BNP Paribas Exane decreased their target price on shares of NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a report on Wednesday, April 1st. Truist Financial decreased their target price on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Barclays decreased their target price on shares of NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Guggenheim decreased their price target on shares of NIKE from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Bank of America reissued a “neutral” rating and issued a $55.00 price target (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Fifteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.89.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Recent coverage highlighted Nike’s “running revival,” suggesting improving momentum in its running category could help refresh the growth story and support a longer-term turnaround. How Nike’s Running Revival Changes The Nike Stock Story
• Neutral Sentiment: Nike’s World Cup marketing push is aimed at strengthening brand visibility versus Adidas, but it is more of a strategic brand-building effort than an immediate earnings catalyst. Nike’s World Cup play: take on Adidas and revitalize the brand
• Neutral Sentiment: EVP Philip McCartney sold 17,398 shares under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards, which is routine but still adds to investor caution around insider activity. SEC filing
• Negative Sentiment: RBC Capital and other commentators downgraded Nike or reiterated skepticism, arguing the turnaround is progressing more slowly than expected and raising concerns about margins, profit goals, and the pace of operational improvement. Nike (NKE) was downgraded to a Hold Rating at RBC Capital
• Negative Sentiment: Recent market commentary said Nike is “still running in place” and has limited time to prove its turnaround, reinforcing worries that the stock may remain range-bound until fundamentals improve. Nike still running in place as turnaround taking longer than expected — RBC Capital

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in NKE. Main Street Financial Solutions LLC boosted its position in NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the period. Diligent Investors LLC boosted its position in NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after buying an additional 153 shares during the period. Massachusetts Financial Services Co. MA boosted its position in NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after buying an additional 163 shares during the period. Lakeshore Capital Group Inc. boosted its position in NIKE by 2.9% during the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after buying an additional 165 shares during the period. Finally, ANB Bank boosted its position in NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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).