NIKE (NYSE:NKE) COO Venkatesh Alagirisamy Sells 3,671 Shares of Stock

NIKE, Inc. (NYSE:NKE) COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the transaction, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at $3,941,762.58. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $41.60, for a total value of $37,024.00.

NIKE Price Performance

NKE stock opened at $36.57 on Friday. The stock’s 50 day moving average price is $41.19 and its 200 day moving average price is $45.38. The firm has a market cap of $54.25 billion, a P/E ratio of 17.50, a PEG ratio of 1.83 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a 1 year low of $36.55 and a 1 year high of $76.97.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the business posted $0.14 earnings per share. NIKE’s revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.5%. NIKE’s payout ratio is presently 78.47%.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Shareholders approved an expanded employee stock purchase plan adopted by NIKE’s board in July. The plan could support employee retention, although the potential for additional share issuance may limit its benefit to existing investors. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: Some commentary argues that NIKE’s underlying business is not fundamentally broken and that its depressed valuation and dividend yield could appeal to long-term investors, though a turnaround remains necessary. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
• Negative Sentiment: Morgan Stanley warned that the pain may not be over, citing persistent operating weakness, disappointing share performance and NIKE’s imminent removal from the S&P 100. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO initiated coverage with an Underperform rating, pointing to challenges facing NIKE and the broader athletic-apparel market. The new bearish call adds to pressure on the stock. BMO Says Sell Nike Stock
• Negative Sentiment: NIKE is set to lose its S&P 100 membership after nearly 18 years, a high-profile consequence of its severe decline that could reduce index-related demand and reinforce negative sentiment. Nike Loses Its S&P 100 Membership
• Negative Sentiment: Analysts continue to cite shifting consumer preferences, intense competition and NIKE’s broad product and market exposure as structural challenges, leaving investors concerned that a recovery could take time. Shifting Consumer Preferences Continue to Impact Nike and Lululemon

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NKE shares. Piper Sandler lowered their price target on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Weiss Ratings raised shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of NIKE in a research note on Tuesday, August 25th. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a report on Tuesday, August 25th. Finally, Oppenheimer lowered their price objective on NIKE from $120.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, NIKE presently has an average rating of “Hold” and an average price target of $50.12.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC increased its position in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NIKE in the first quarter worth $311,000. United Bank increased its position in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after acquiring an additional 1,736 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after acquiring an additional 197 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after acquiring an additional 11,646 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.