NIKE (NYSE:NKE) EVP Philip Mccartney Sells 17,398 Shares of Stock

NIKE, Inc. (NYSE:NKE) EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NIKE Stock Down 2.3%

Shares of NIKE stock opened at $44.90 on Friday. The stock’s fifty day moving average is $44.26 and its 200-day moving average is $55.45. The firm has a market capitalization of $66.49 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is presently 108.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NKE shares. HSBC lowered NIKE from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $48.00 in a research report on Monday, April 13th. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. Zacks Research lowered NIKE from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. Williams Trading dropped their target price on NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, BNP Paribas Exane dropped their target price on NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 1st. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.89.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Recent coverage highlighted Nike’s “running revival,” suggesting improving momentum in its running category could help refresh the growth story and support a longer-term turnaround. How Nike’s Running Revival Changes The Nike Stock Story
• Neutral Sentiment: Nike’s World Cup marketing push is aimed at strengthening brand visibility versus Adidas, but it is more of a strategic brand-building effort than an immediate earnings catalyst. Nike’s World Cup play: take on Adidas and revitalize the brand
• Neutral Sentiment: EVP Philip McCartney sold 17,398 shares under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards, which is routine but still adds to investor caution around insider activity. SEC filing
• Negative Sentiment: RBC Capital and other commentators downgraded Nike or reiterated skepticism, arguing the turnaround is progressing more slowly than expected and raising concerns about margins, profit goals, and the pace of operational improvement. Nike (NKE) was downgraded to a Hold Rating at RBC Capital
• Negative Sentiment: Recent market commentary said Nike is “still running in place” and has limited time to prove its turnaround, reinforcing worries that the stock may remain range-bound until fundamentals improve. Nike still running in place as turnaround taking longer than expected — RBC Capital

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the business. Main Street Financial Solutions LLC boosted its position in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the last quarter. Diligent Investors LLC boosted its position in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after buying an additional 153 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after buying an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. boosted its position in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after buying an additional 165 shares during the last quarter. Finally, ANB Bank boosted its position in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after buying an additional 165 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).