Mark G. Parker Sells 110,000 Shares of NIKE, Inc. (NYSE:NKE) Stock

NIKE, Inc. (NYSE:NKE) Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NIKE Price Performance

Shares of NYSE:NKE traded up $2.16 on Monday, hitting $74.86. The company’s stock had a trading volume of 18,587,012 shares, compared to its average volume of 11,416,731. The company has a 50-day simple moving average of $87.46 and a 200 day simple moving average of $94.68. NIKE, Inc. has a 1 year low of $71.24 and a 1 year high of $123.39. The company has a market capitalization of $112.99 billion, a PE ratio of 19.95, a PEG ratio of 1.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. Sell-side analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued 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 dividend yield of 1.98%. NIKE’s dividend payout ratio is 39.68%.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Piscataqua Savings Bank grew its position in NIKE by 2.1% during the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after acquiring an additional 100 shares during the last quarter. Physicians Financial Services Inc. grew its position in NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after acquiring an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. grew its position in NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after acquiring an additional 100 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC grew its position in NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after acquiring an additional 101 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. BMO Capital Markets cut their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Stifel Nicolaus reiterated a “hold” rating and set a $88.00 price target (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. UBS Group reiterated a “neutral” rating and set a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Royal Bank of Canada cut their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.44.

About NIKE

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.