Insider Selling: NIKE (NYSE:NKE) Chairman Sells $5,577,854.40 in Stock

NIKE, Inc. (NYSE:NKE) Chairman Mark Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the transaction, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NIKE Stock Performance

NYSE NKE opened at $62.79 on Thursday. The company’s 50 day simple moving average is $67.82 and its two-hundred day simple moving average is $68.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The stock has a market capitalization of $92.81 billion, a PE ratio of 32.20, a P/E/G ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price target on shares of NIKE in a report on Wednesday, October 1st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. JPMorgan Chase & Co. cut their price target on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company raised shares of NIKE from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $75.00 in a report on Thursday, November 13th. Finally, BTIG Research initiated coverage on shares of NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $82.24.

Institutional Investors Weigh In On NIKE

Hedge funds have recently made changes to their positions in the business. Soltis Investment Advisors LLC increased its holdings in shares of NIKE by 238.8% in the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock valued at $10,042,000 after purchasing an additional 99,638 shares during the period. Banco Santander S.A. raised its position in NIKE by 28.3% during the 2nd quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after buying an additional 48,764 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE during the 1st quarter valued at approximately $25,963,000. Finally, BROOKFIELD Corp ON boosted its holdings in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after acquiring an additional 175,000 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.