Insider Buying: NIKE, Inc. (NYSE:NKE) Director Buys 2,941 Shares of Stock

NIKE, Inc. (NYSE:NKE) Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

NIKE Price Performance

NYSE:NKE traded up $1.46 during trading hours on Monday, hitting $76.83. 44,281,709 shares of the company’s stock traded hands, compared to its average volume of 10,574,331. The firm has a market cap of $115.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39. The business’s fifty day simple moving average is $93.28 and its two-hundred day simple moving average is $98.85. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 3.9 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.93%. NIKE’s dividend payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NKE shares. Stifel Nicolaus restated a “hold” rating and set a $88.00 target price (down previously from $117.00) on shares of NIKE in a research report on Friday. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $109.00 to $80.00 in a research note on Friday. Sanford C. Bernstein decreased their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Bank of America reduced their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of NIKE in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $98.96.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Confluence Investment Management LLC increased its holdings in NIKE by 31.4% during the 2nd quarter. Confluence Investment Management LLC now owns 228,972 shares of the footwear maker’s stock valued at $17,258,000 after purchasing an additional 54,672 shares during the period. NBW Capital LLC increased its holdings in NIKE by 0.9% during the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after purchasing an additional 431 shares during the period. IMS Capital Management increased its holdings in NIKE by 2.7% during the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after purchasing an additional 589 shares during the period. American Trust increased its holdings in NIKE by 9.5% during the 1st quarter. American Trust now owns 44,107 shares of the footwear maker’s stock valued at $4,145,000 after purchasing an additional 3,833 shares during the period. Finally, Portland Hill Asset Management Ltd bought a new stake in NIKE during the 1st quarter valued at approximately $958,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.