Nike Inc (NKE) Chairman Mark G. Parker Sells 135,000 Shares

Nike Inc (NYSE:NKE) Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the sale, the chairman now owns 1,502,830 shares of the company’s stock, valued at $97,683,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Nike Inc (NYSE:NKE) traded down $0.57 during trading hours on Tuesday, hitting $64.24. 8,197,588 shares of the stock traded hands, compared to its average volume of 9,611,830. The firm has a market capitalization of $105,689.83, a P/E ratio of 27.57, a PEG ratio of 3.03 and a beta of 0.64. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike Inc has a 52 week low of $50.35 and a 52 week high of $65.18.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. sell-side analysts expect that Nike Inc will post 2.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be paid a $0.20 dividend. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. Nike’s payout ratio is currently 34.04%.

A number of equities research analysts have recently weighed in on the stock. Goldman Sachs Group set a $59.00 price target on shares of Nike and gave the company a “neutral” rating in a research report on Thursday, December 14th. HSBC downgraded shares of Nike from a “buy” rating to a “hold” rating and lifted their price target for the company from $58.95 to $62.00 in a research report on Tuesday, November 28th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Citigroup reiterated a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Deutsche Bank set a $76.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Thursday, December 14th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.93.

Several institutional investors have recently modified their holdings of NKE. Willingdon Wealth Management bought a new stake in shares of Nike in the third quarter worth $114,000. Asset Planning Services Ltd. boosted its position in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares during the last quarter. Atlantic Trust LLC bought a new stake in Nike during the second quarter valued at $136,000. Howe & Rusling Inc. boosted its position in Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after acquiring an additional 1,209 shares during the last quarter. 62.56% of the stock is currently owned by institutional investors.

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About Nike

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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