Mark G. Parker Sells 135,000 Shares of Nike, Inc. (NKE) Stock
Nike, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year.
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Several hedge funds and other institutional investors have recently bought and sold shares of NKE. V Wealth Management LLC purchased a new position in shares of Nike during the 2nd quarter worth $100,000. Asset Planning Services Ltd. raised its holdings in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Atlantic Trust LLC purchased a new position in shares of Nike during the 2nd quarter worth $136,000. Howe & Rusling Inc. raised its holdings in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares during the period. Finally, Rational Advisors LLC raised its holdings in shares of Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 62.46% of the company’s stock.
NKE has been the subject of a number of analyst reports. Jefferies Group LLC lowered shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price objective for the company. in a research note on Monday, September 4th. Telsey Advisory Group reduced their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Morgan Stanley upgraded shares of Nike from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $56.00 to $68.00 in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus restated a “buy” rating and set a $66.00 price objective on shares of Nike in a research note on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.93.
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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