Nike, Inc. (NYSE:NKE) Insider Sells $11,526,000.00 in Stock
Nike, Inc. (NYSE:NKE) insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares in the company, valued at approximately $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Nike, Inc. (NYSE:NKE) traded down 0.69% during midday trading on Thursday, reaching $57.16. 9,035,661 shares of the company’s stock were exchanged. The company has a market cap of $94.14 billion, a P/E ratio of 22.77 and a beta of 0.60. The company has a 50 day moving average price of $52.82 and a 200 day moving average price of $54.25. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.33.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion for 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 was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that Nike, Inc. will post $2.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 5th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, June 1st. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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A number of hedge funds have recently added to or reduced their stakes in NKE. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Nike during the fourth quarter worth approximately $10,508,000. Webster Bank N. A. raised its stake in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Nike during the first quarter worth approximately $117,000. Gierl Augustine Investment Management Inc raised its stake in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the last quarter. Finally, Asset Planning Services Ltd. purchased a new stake in shares of Nike during the first quarter worth approximately $118,000. 64.00% of the stock is currently owned by institutional investors and hedge funds.
NKE has been the topic of a number of analyst reports. Morgan Stanley set a $56.00 price objective on shares of Nike and gave the stock a “neutral” rating in a report on Monday, March 13th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of Nike in a report on Thursday, March 16th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $46.00 price objective on shares of Nike in a report on Wednesday, March 22nd. Deutsche Bank AG increased their price objective on shares of Nike from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 8th. Finally, Vetr cut shares of Nike from a “buy” rating to a “hold” rating and set a $58.44 price objective on the stock. in a report on Monday, April 17th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have issued a buy rating to the company. Nike presently has an average rating of “Hold” and an average target price of $60.45.
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.
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