Insider Selling: NIKE, Inc. (NYSE:NKE) Chairman Sells 169,732 Shares of Stock

NIKE, Inc. (NYSE:NKE - Get Free Report) Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

NIKE Price Performance

NYSE NKE traded down $0.73 on Friday, reaching $76.50. The company had a trading volume of 12,813,494 shares, compared to its average volume of 13,223,615. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The firm's 50 day moving average price is $74.31 and its 200 day moving average price is $78.09. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE's dividend payout ratio is currently 49.38%.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Stratos Wealth Advisors LLC increased its holdings in NIKE by 6.7% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker's stock valued at $716,000 after acquiring an additional 506 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of NIKE by 164.6% in the 3rd quarter. Blue Trust Inc. now owns 11,955 shares of the footwear maker's stock worth $1,057,000 after buying an additional 7,437 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of NIKE by 7.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 454,719 shares of the footwear maker's stock worth $40,197,000 after buying an additional 32,907 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of NIKE by 4.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 3,999 shares of the footwear maker's stock worth $355,000 after buying an additional 185 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of NIKE by 187.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker's stock worth $28,641,000 after buying an additional 211,461 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NKE. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating on the stock in a report on Thursday, November 7th. Robert W. Baird dropped their target price on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of NIKE from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, December 2nd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $88.62.

About NIKE

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.