NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker Sells 169,732 Shares

NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

NIKE Stock Up 6.2 %

NYSE:NKE opened at $77.54 on Wednesday. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $114.70 billion, a PE ratio of 23.93, a P/E/G ratio of 2.34 and a beta of 1.01. The firm’s 50 day simple moving average is $74.37 and its 200 day simple moving average is $78.04.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. NIKE’s payout ratio is 49.38%.

Hedge Funds Weigh In On NIKE

A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Stratos Wealth Advisors LLC increased its position in shares of NIKE by 6.7% during the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock worth $716,000 after buying an additional 506 shares during the period. Blue Trust Inc. grew its holdings in NIKE by 164.6% during the 3rd quarter. Blue Trust Inc. now owns 11,955 shares of the footwear maker’s stock worth $1,057,000 after acquiring an additional 7,437 shares during the period. Commonwealth Equity Services LLC raised its position 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 acquiring an additional 32,907 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake 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 valued at $355,000 after purchasing an additional 185 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of NIKE by 187.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after purchasing an additional 211,461 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Barclays reduced their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.