Insider Selling: Donald Blair Sells 33,000 Shares of Nike Stock (NKE)
Nike (NYSE:NKE) CFO Donald Blair sold 33,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $68.00, for a total value of $2,244,000.00. Following the completion of the sale, the chief financial officer now directly owns 203,635 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on NKE. Analysts at Piper Jaffray Cos. reiterated a “neutral” rating on shares of Nike (NYSE:NKE) in a research note to investors on Thursday. They now have a $71.00 price target on the stock, up previously from $64.00. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Nike (NYSE:NKE) in a research note to investors on Thursday, August 8th. They set an “outperform” rating and a $76.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Cowen and Company reiterated an “outperform” rating on shares of Nike (NYSE:NKE) in a research note to investors on Tuesday, July 9th. They now have a $68.00 price target on the stock.
Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $68.99.
Nike (NYSE:NKE) traded up 0.41% during mid-day trading on Monday, hitting $68.19. 2,673,387 shares of the company’s stock traded hands. Nike has a one year low of $44.825 and a one year high of $68.90. The stock has a 50-day moving average of $65.09 and a 200-day moving average of $62.07. The company has a market cap of $60.713 billion and a P/E ratio of 25.03.
Nike (NYSE:NKE) last released its earnings data on Thursday, June 27th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.01. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Nike will post $3.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 29th.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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