Insider Selling: Nike, Inc. (NKE) Director Sells 16,000 Shares of Stock

Nike, Inc. (NYSE:NKE) Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the sale, the director now directly owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of Nike, Inc. (NKE) traded down 0.69% during midday trading on Monday, hitting $53.50. The company had a trading volume of 8,166,438 shares. The stock’s 50-day moving average price is $55.74 and its 200-day moving average price is $55.41. The stock has a market capitalization of $87.91 billion, a price-to-earnings ratio of 21.31 and a beta of 0.61. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. Nike’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Analysts predict that Nike, Inc. will post $2.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. Nike’s payout ratio is currently 28.69%.

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Several equities research analysts recently issued reports on NKE shares. Morgan Stanley reissued a “buy” rating and set a $64.00 price target (down from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Telsey Advisory Group dropped their price target on Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target on the stock in a research report on Wednesday, September 6th. Cowen and Company set a $54.00 price target on Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Canaccord Genuity set a $51.00 price target on Nike and gave the company a “hold” rating in a research report on Friday, May 26th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $60.48.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after buying an additional 2,452,993 shares during the period. State Street Corp boosted its stake in Nike by 1.4% during the 1st quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after purchasing an additional 835,003 shares during the last quarter. Wellington Management Group LLP boosted its stake in Nike by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after purchasing an additional 2,375,447 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Nike by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after purchasing an additional 144,846 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Nike by 124.7% during the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after purchasing an additional 13,953,567 shares during the last quarter. Institutional investors own 62.63% of the company’s stock.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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

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