Key Points
- NIKE EVP Philip McCartney sold 2,559 shares at an average price of $37.59, totaling $96,192.81, under a pre-arranged Rule 10b5-1 plan. He retained 78,121 shares after the transaction.
- NIKE shares opened at $36.57, near their 52-week low of $36.55 and well below the 52-week high of $76.97. The company recently beat quarterly earnings and revenue estimates, but revenue still declined 1.1% year over year.
- Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and an average price target of $50.12. NIKE also declared a quarterly dividend of $0.41, implying a 4.5% annualized yield.
NIKE, Inc. (NYSE:NKE - Get Free Report) EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares of the company's stock, valued at $2,936,568.39. The trade was a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Philip Mccartney also recently made the following trade(s):
- On Wednesday, August 5th, Philip McCartney sold 524 shares of NIKE stock. The shares were sold at an average price of $41.60, for a total value of $21,798.40.
- On Friday, June 12th, Philip McCartney sold 17,398 shares of NIKE stock. The stock was sold at an average price of $46.18, for a total value of $803,439.64.
NIKE Price Performance
NYSE NKE opened at $36.57 on Friday. The company has a 50-day moving average price of $41.19 and a 200-day moving average price of $45.38. NIKE, Inc. has a 52 week low of $36.55 and a 52 week high of $76.97. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $54.25 billion, a P/E ratio of 17.50, a PEG ratio of 1.83 and a beta of 1.10.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current year.
NIKE Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.5%. NIKE's dividend payout ratio is presently 78.47%.
Analysts Set New Price Targets
NKE has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of NIKE from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NIKE from $43.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, July 17th. BNP Paribas Exane reiterated an "underperform" rating on shares of NIKE in a report on Wednesday, July 22nd. Oppenheimer reduced their price target on NIKE from $120.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, June 26th. Finally, The Goldman Sachs Group lowered their price objective on NIKE from $46.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.12.
Get Our Latest Stock Analysis on NIKE
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of NIKE by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 640,889 shares of the footwear maker's stock worth $26,308,000 after buying an additional 11,884 shares during the period. MCF Advisors LLC raised its stake in NIKE by 48.4% in the 2nd quarter. MCF Advisors LLC now owns 25,663 shares of the footwear maker's stock worth $1,060,000 after acquiring an additional 8,370 shares during the last quarter. National Pension Service raised its stake in shares of NIKE by 8.7% in the second quarter. National Pension Service now owns 3,088,640 shares of the footwear maker's stock worth $126,789,000 after purchasing an additional 247,230 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in NIKE by 63.0% in the second quarter. WINTON GROUP Ltd now owns 43,923 shares of the footwear maker's stock valued at $1,803,000 after purchasing an additional 16,978 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its position in NIKE by 33.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 15,948 shares of the footwear maker's stock worth $655,000 after purchasing an additional 3,995 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.
Trending Headlines about NIKE
Here are the key news stories impacting NIKE this week:
- Neutral Sentiment: Shareholders approved an expanded employee stock purchase plan adopted by NIKE’s board in July. The plan could support employee retention, although the potential for additional share issuance may limit its benefit to existing investors. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
- Neutral Sentiment: Some commentary argues that NIKE’s underlying business is not fundamentally broken and that its depressed valuation and dividend yield could appeal to long-term investors, though a turnaround remains necessary. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
- Negative Sentiment: Morgan Stanley warned that the pain may not be over, citing persistent operating weakness, disappointing share performance and NIKE’s imminent removal from the S&P 100. Morgan Stanley Says the Pain May Not Be Over Yet
- Negative Sentiment: BMO initiated coverage with an Underperform rating, pointing to challenges facing NIKE and the broader athletic-apparel market. The new bearish call adds to pressure on the stock. BMO Says Sell Nike Stock
- Negative Sentiment: NIKE is set to lose its S&P 100 membership after nearly 18 years, a high-profile consequence of its severe decline that could reduce index-related demand and reinforce negative sentiment. Nike Loses Its S&P 100 Membership
- Negative Sentiment: Analysts continue to cite shifting consumer preferences, intense competition and NIKE’s broad product and market exposure as structural challenges, leaving investors concerned that a recovery could take time. Shifting Consumer Preferences Continue to Impact Nike and Lululemon
NIKE Company Profile
(
Get Free Report)
NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.
NIKE's offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.
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