NIKE, Inc. (NYSE:NKE) Chairman Sells $13,294,600.00 in Stock

NIKE, Inc. (NYSE:NKE – Get Rating) Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $120.86, for a total value of $13,294,600.00. Following the completion of the transaction, the chairman now owns 1,355,871 shares in the company, valued at $163,870,569.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NIKE Price Performance

NYSE:NKE opened at $119.83 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.73 and a debt-to-equity ratio of 0.61. The business’s 50-day simple moving average is $122.61 and its two-hundred day simple moving average is $117.78. The stock has a market cap of $184.18 billion, a PE ratio of 34.53, a P/E/G ratio of 3.70 and a beta of 1.11. NIKE, Inc. has a 52 week low of $82.22 and a 52 week high of $131.31.

NIKE (NYSE:NKE – Get Rating) last posted its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.24. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.48 billion. NIKE had a return on equity of 35.98% and a net margin of 10.82%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 3.24 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $1.36 annualized dividend and a dividend yield of 1.13%. NIKE’s dividend payout ratio (DPR) is 39.19%.

Institutional Investors Weigh In On NIKE

Several large investors have recently made changes to their positions in NKE. Accel Wealth Management increased its stake in NIKE by 80.6% during the fourth quarter. Accel Wealth Management now owns 224 shares of the footwear maker’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. America First Investment Advisors LLC bought a new stake in NIKE during the first quarter worth approximately $27,000. Legend Financial Advisors Inc. increased its stake in NIKE by 164.8% during the fourth quarter. Legend Financial Advisors Inc. now owns 241 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Turim 21 Investimentos Ltda. increased its stake in NIKE by 821.1% during the third quarter. Turim 21 Investimentos Ltda. now owns 350 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 312 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $29,000. 63.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NKE. TD Cowen upped their target price on NIKE from $141.00 to $142.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 22nd. Royal Bank of Canada set a $145.00 price objective on NIKE and gave the stock an “outperform” rating in a report on Friday, March 17th. Piper Sandler upped their price objective on NIKE from $105.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, March 22nd. StockNews.com assumed coverage on NIKE in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Daiwa Capital Markets increased their target price on NIKE from $116.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.33.

About NIKE

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.