Insider Selling: NIKE (NYSE:NKE) COO Sells $137,992.89 in Stock

NIKE, Inc. (NYSE:NKE) COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the sale, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at $3,941,762.58. The trade was a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Venkatesh Alagirisamy also recently made the following trade(s):

• On Wednesday, August 5th, Venkatesh Alagirisamy sold 890 shares of NIKE stock. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00.

NIKE Stock Performance

NYSE:NKE opened at $36.81 on Friday. The firm’s fifty day simple moving average is $41.04 and its 200 day simple moving average is $45.32. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a twelve month low of $36.55 and a twelve month high of $76.97. The firm has a market capitalization of $54.62 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.80 and a beta of 1.10.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.5%. NIKE’s dividend payout ratio (DPR) is 78.47%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NKE. Wells Fargo & Company reduced their price target on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 1st. BTIG Research reiterated a “buy” rating and set a $55.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. Sanford C. Bernstein reiterated an “outperform” rating and set a $68.00 price objective (down from $72.00) on shares of NIKE in a research note on Wednesday, July 29th. Stifel Nicolaus set a $45.00 target price on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.12.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts argue that NIKE’s core business remains viable despite weak sentiment. The depressed valuation and approximately 4.5% dividend yield could attract long-term investors if management can successfully restore growth. Nike Is Now Down 40% This Year
• Neutral Sentiment: NIKE shareholders approved an expanded employee stock purchase plan. The measure may help employee retention, although potential additional share issuance could dilute existing shareholders. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue expectations, but sales still declined year over year. Analysts currently expect about $1.74 in earnings per share for the full year, leaving the valuation dependent on a meaningful operational recovery.
• Negative Sentiment: Morgan Stanley warned that the selloff may continue, citing persistent operating weakness and disappointing performance. NIKE’s imminent removal from the S&P 100 may also reduce index-related demand and reinforce negative sentiment. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO Capital Markets issued a strongly bearish “Underperform”/“Strong Sell” view, adding to a series of negative Wall Street calls. Analysts continue to cite intense competition, shifting consumer preferences and broad product-market challenges. Nike Gains Another Bearish Call
• Negative Sentiment: Two senior executives sold shares worth approximately $234,000 combined under pre-arranged Rule 10b5-1 plans. The sales were relatively small and scheduled in advance, but they add to near-term caution among investors. NIKE Insider Selling

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. Scarborough Advisors LLC acquired a new position in shares of NIKE in the 1st quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth approximately $26,000. Sankala Group LLC bought a new stake in shares of NIKE in the fourth quarter worth $26,000. Meeder Asset Management Inc. increased its stake in shares of NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after buying an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in NIKE in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.