NIKE (NYSE:NKE) Sees Unusually-High Trading Volume on Insider Buying Activity

Shares of NIKE, Inc. (NYSE:NKE) saw strong trading volume on Monday following insider buying activity. 8,145,891 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 10,259,253 shares.The stock last traded at $75.37 and had previously closed at $75.37.

Specifically, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Citigroup lowered their target price on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Piper Sandler dropped their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. HSBC reduced their price target on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Bank of America cut their target price on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus target price of $98.04.

NIKE Trading Down 1.0 %

The firm has a market capitalization of $114.80 billion, a PE ratio of 20.39, a PEG ratio of 1.43 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. The firm’s fifty day moving average is $92.94 and its two-hundred day moving average is $98.54.

NIKE (NYSE:NKE) last released 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. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. NIKE’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 3.47 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.95%. NIKE’s dividend payout ratio is currently 39.68%.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. Annapolis Financial Services LLC raised its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the 4th quarter valued at about $29,000. True Wealth Design LLC increased its position in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $33,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Company Profile

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.