Traders Sell Nike (NKE) on Strength Following Insider Selling

Investors sold shares of Nike (NYSE:NKE) on strength during trading hours on Thursday following insider selling activity. $61.02 million flowed into the stock on the tick-up and $111.18 million flowed out of the stock on the tick-down, for a money net flow of $50.16 million out of the stock. Of all stocks tracked, Nike had the 14th highest net out-flow for the day. Nike traded up $0.01 for the day and closed at $74.76Specifically, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $73.03, for a total transaction of $9,859,050.00. Following the transaction, the chairman now owns 1,637,736 shares in the company, valued at $119,603,860.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric D. Sprunk sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $72.00, for a total transaction of $3,240,000.00. Following the transaction, the insider now owns 186,959 shares in the company, valued at approximately $13,461,048. The disclosure for this sale can be found here. Insiders sold 275,000 shares of company stock worth $19,929,500 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

A number of equities research analysts have weighed in on NKE shares. Canaccord Genuity restated a “hold” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Nike in a report on Sunday, March 25th. Macquarie restated a “buy” rating and issued a $80.00 price objective on shares of Nike in a report on Friday, March 23rd. Barclays set a $75.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Friday, March 23rd. Jefferies Group set a $68.00 price objective on shares of Nike and gave the stock a “neutral” rating in a report on Friday, March 23rd. Finally, Wedbush restated an “outperform” rating and issued a $74.00 price objective (down previously from $75.00) on shares of Nike in a report on Friday, March 23rd. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $69.30.

The stock has a market cap of $120.47 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.13 and a beta of 0.66. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.15. The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. equities analysts forecast that Nike will post 2.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Monday, June 4th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. Nike’s dividend payout ratio (DPR) is 31.87%.

A number of institutional investors have recently modified their holdings of the stock. Lido Advisors LLC raised its position in Nike by 14.4% in the first quarter. Lido Advisors LLC now owns 5,860 shares of the footwear maker’s stock worth $389,000 after acquiring an additional 737 shares during the period. Sather Financial Group Inc raised its position in Nike by 0.4% in the first quarter. Sather Financial Group Inc now owns 174,859 shares of the footwear maker’s stock worth $11,618,000 after acquiring an additional 747 shares during the period. Fisher Asset Management LLC raised its position in Nike by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 39,698 shares of the footwear maker’s stock worth $2,483,000 after acquiring an additional 778 shares during the period. Coldstream Capital Management Inc. raised its position in Nike by 1.0% in the first quarter. Coldstream Capital Management Inc. now owns 77,308 shares of the footwear maker’s stock worth $5,136,000 after acquiring an additional 802 shares during the period. Finally, HBK Sorce Advisory LLC raised its position in Nike by 5.4% in the fourth quarter. HBK Sorce Advisory LLC now owns 16,372 shares of the footwear maker’s stock worth $1,024,000 after acquiring an additional 841 shares during the period. Institutional investors own 64.16% of the company’s stock.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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