NIKE (NYSE:NKE) CEO Purchases $1,001,306.80 in Stock

NIKE, Inc. (NYSE:NKE) CEO Elliott Hill purchased 16,388 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer directly owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

NIKE Trading Down 0.1%

NYSE NKE traded down $0.05 during trading on Tuesday, reaching $61.16. 13,087,954 shares of the stock traded hands, compared to its average volume of 16,575,660. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.29. The stock’s 50-day moving average price is $64.08 and its 200 day moving average price is $69.35.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same period last year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.7%. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. NIKE’s dividend payout ratio is currently 96.47%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NKE. KeyCorp set a $90.00 price objective on NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group set a $77.00 price target on shares of NIKE in a report on Friday, December 19th. Guggenheim reaffirmed a “buy” rating and issued a $77.00 price objective on shares of NIKE in a research report on Friday, December 19th. Barclays set a $64.00 target price on NIKE and gave the stock an “equal weight” rating in a report on Friday, December 19th. Finally, Bank of America dropped their price target on NIKE from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $75.84.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC grew its stake in NIKE by 697.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 228,889 shares of the footwear maker’s stock valued at $15,960,000 after buying an additional 200,187 shares during the last quarter. Soros Fund Management LLC boosted its holdings in shares of NIKE by 33.0% during the second quarter. Soros Fund Management LLC now owns 302,320 shares of the footwear maker’s stock worth $21,477,000 after acquiring an additional 75,000 shares during the period. Brighton Jones LLC boosted its holdings in shares of NIKE by 54.6% during the third quarter. Brighton Jones LLC now owns 104,791 shares of the footwear maker’s stock worth $7,307,000 after acquiring an additional 37,019 shares during the period. Soltis Investment Advisors LLC grew its position in shares of NIKE by 238.8% in the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock valued at $10,042,000 after purchasing an additional 99,638 shares during the last quarter. Finally, Banco Santander S.A. increased its stake in shares of NIKE by 28.3% during the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after purchasing an additional 48,764 shares during the period. Institutional investors own 64.25% of the company’s stock.

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).