Nike Inc (NYSE:NKE) insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Nike Inc (NYSE NKE) opened at $64.67 on Friday. The firm has a market cap of $105,214.14, a PE ratio of 28.00, a P/E/G ratio of 2.93 and a beta of 0.64. Nike Inc has a 1-year low of $50.35 and a 1-year high of $65.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts forecast that Nike Inc will post 2.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.24%. Nike’s payout ratio is 34.63%.
A number of institutional investors have recently modified their holdings of NKE. Janus Henderson Group PLC raised its position in Nike by 4,252.6% in the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares in the last quarter. Capital World Investors raised its position in Nike by 58.7% in the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. Harding Loevner LP raised its position in Nike by 97.1% in the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after acquiring an additional 5,987,728 shares in the last quarter. Orbis Allan Gray Ltd bought a new stake in Nike in the second quarter worth about $226,588,000. Finally, Alliancebernstein L.P. raised its position in Nike by 25.5% in the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after acquiring an additional 3,033,280 shares in the last quarter. Hedge funds and other institutional investors own 62.67% of the company’s stock.
A number of equities analysts have commented on NKE shares. Cowen reaffirmed a “hold” rating and issued a $54.00 price objective on shares of Nike in a report on Sunday, September 17th. Morgan Stanley set a $64.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Monday, September 18th. Canaccord Genuity reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Nike in a report on Monday, September 18th. Jefferies Group set a $49.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Tuesday, September 19th. Finally, UBS Group downgraded shares of Nike from a “positive” rating to a “neutral” rating in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $64.40.
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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