NIKE (NYSE:NKE) Sees Strong Trading Volume Following Insider Buying Activity

NIKE, Inc. (NYSE:NKE) saw an uptick in trading volume on Monday following insider buying activity. 8,145,891 shares traded hands during trading, a decline of 21% from the previous session’s volume of 10,259,253 shares.The stock last traded at $75.37 and had previously closed at $75.37.

Specifically, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NKE. Guggenheim reduced their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Piper Sandler decreased their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Stifel Nicolaus restated a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a research report on Friday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Wells Fargo & Company cut their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.04.

NIKE Trading Down 1.0 %

The firm has a market cap of $114.80 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a 50-day simple moving average of $92.94 and a 200 day simple moving average of $98.54. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.47 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.95%. NIKE’s dividend payout ratio is currently 39.68%.

Institutional Trading of NIKE

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in NIKE during the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD lifted its stake in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Capital International Investors increased its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD purchased a new stake in NIKE in the 1st quarter valued at about $533,533,000. Finally, Capital World Investors boosted its stake in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Company Profile

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.