Key Points
- NIKE EVP Philip McCartney sold 17,398 shares on June 12 at an average price of $46.18, totaling about $803,440. The sale was made under a pre-arranged 10b5-1 plan and was tied to tax withholding on vested equity awards.
- NIKE’s recent fundamentals were mixed: the company beat quarterly EPS and revenue estimates, but revenue growth was essentially flat year over year and analysts still expect only modest earnings of 1.49 per share for the current year.
- Wall Street sentiment remains cautious, with several firms trimming price targets and the overall analyst consensus sitting at “Hold” with a target of $60.89. Meanwhile, NIKE continues to pay a quarterly dividend of $0.41 per share, yielding about 3.7% annually.
NIKE, Inc. (NYSE:NKE - Get Free Report) EVP Philip Mccartney sold 17,398 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
NIKE Stock Performance
NKE stock opened at $44.90 on Friday. The business's 50-day moving average price is $44.26 and its two-hundred day moving average price is $55.45. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The firm has a market cap of $66.49 billion, a PE ratio of 29.73, a P/E/G ratio of 1.99 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.
NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. As a group, research analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. NIKE's payout ratio is currently 108.61%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on NKE. Barclays cut their price target on NIKE from $73.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Berenberg Bank restated a "neutral" rating on shares of NIKE in a research report on Wednesday, May 6th. Citigroup lowered their price objective on shares of NIKE from $53.00 to $47.00 and set a "neutral" rating for the company in a research report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of NIKE in a research report on Thursday, June 4th. Finally, Guggenheim lowered their price objective on shares of NIKE from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $60.89.
Get Our Latest Stock Report on NKE
Key Stories Impacting NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Recent coverage highlighted Nike’s “running revival,” suggesting improving momentum in its running category could help refresh the growth story and support a longer-term turnaround. How Nike's Running Revival Changes The Nike Stock Story
- Neutral Sentiment: Nike’s World Cup marketing push is aimed at strengthening brand visibility versus Adidas, but it is more of a strategic brand-building effort than an immediate earnings catalyst. Nike's World Cup play: take on Adidas and revitalize the brand
- Neutral Sentiment: EVP Philip McCartney sold 17,398 shares under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards, which is routine but still adds to investor caution around insider activity. SEC filing
- Negative Sentiment: RBC Capital and other commentators downgraded Nike or reiterated skepticism, arguing the turnaround is progressing more slowly than expected and raising concerns about margins, profit goals, and the pace of operational improvement. Nike (NKE) was downgraded to a Hold Rating at RBC Capital
- Negative Sentiment: Recent market commentary said Nike is “still running in place” and has limited time to prove its turnaround, reinforcing worries that the stock may remain range-bound until fundamentals improve. Nike still running in place as turnaround taking longer than expected — RBC Capital
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of NKE. E Wealth Partners LLC acquired a new stake in NIKE in the first quarter valued at $279,000. FAS Wealth Partners Inc. raised its position in NIKE by 4.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker's stock worth $323,000 after purchasing an additional 249 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in NIKE by 43.2% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 41,295 shares of the footwear maker's stock worth $2,182,000 after purchasing an additional 12,464 shares during the last quarter. Honeycomb Asset Management LP bought a new position in NIKE during the 1st quarter worth $1,258,000. Finally, Allen Capital Group LLC raised its position in NIKE by 8.0% during the 1st quarter. Allen Capital Group LLC now owns 62,937 shares of the footwear maker's stock worth $3,324,000 after purchasing an additional 4,687 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.
About NIKE
(
Get Free Report)
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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