Nike, Inc. (NYSE:NKE) insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the transaction, the insider now directly owns 139,551 shares in the company, valued at $8,179,084.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Nike, Inc. (NYSE:NKE) traded down 0.17% during mid-day trading on Friday, hitting $58.97. 4,979,994 shares of the stock traded hands. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The firm has a market cap of $96.90 billion, a P/E ratio of 23.49 and a beta of 0.59. The firm’s 50-day moving average is $57.96 and its 200 day moving average is $55.61.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the previous year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s payout ratio is currently 28.69%.
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Several hedge funds and other institutional investors have recently bought and sold shares of NKE. Asset Planning Services Ltd. boosted its position in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares in the last quarter. Stearns Financial Services Group boosted its position in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after buying an additional 17 shares in the last quarter. Accredited Investors Inc. boosted its position in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares in the last quarter. Montecito Bank & Trust boosted its position in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV boosted its position in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after buying an additional 41 shares in the last quarter. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on NKE. Stifel Nicolaus set a $66.00 target price on shares of Nike and gave the company a “buy” rating in a report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on shares of Nike and gave the company a “hold” rating in a report on Saturday, July 22nd. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Nike in a research note on Monday, July 24th. Cowen and Company set a $54.00 price target on shares of Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Barclays PLC restated an “overweight” rating and issued a $65.00 price target on shares of Nike in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have issued a buy rating to the stock. Nike presently has a consensus rating of “Buy” and an average price target of $61.04.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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