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

by · The Markets Daily

NIKE, Inc. (NYSE:NKE – Get Free Report) Chairman Mark Parker sold 86,078 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares of the company’s stock, valued at $41,965,452. The trade was a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NIKE Stock Down 1.9%

NKE traded down $1.25 on Monday, hitting $62.92. 17,057,907 shares of the company were exchanged, compared to its average volume of 16,176,839. The stock’s fifty day moving average is $68.50 and its 200-day moving average is $68.82. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a market cap of $93.01 billion, a PE ratio of 32.27, a PEG ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share 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 the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. Equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein restated a “buy” rating and set a $90.00 target price on shares of NIKE in a report on Monday, October 13th. KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $78.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $82.24.

Read Our Latest Stock Analysis on NKE

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stone House Investment Management LLC acquired a new stake in NIKE during the first quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new position in shares of NIKE in the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC increased its stake in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank bought a new position in shares of NIKE during the first quarter worth approximately $30,000. Finally, Matrix Trust Co lifted its holdings in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

About NIKE

(Get Free Report)

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.

Read More