Nike Inc (NKE) CAO Hilary K. Krane Sells 40,000 Shares of Stock

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Nike Inc (NYSE:NKE) CAO Hilary K. Krane sold 40,000 shares of the business’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $76.51, for a total transaction of $3,060,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NKE stock opened at $76.48 on Friday. The stock has a market cap of $124.54 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.57 and a beta of 0.67. Nike Inc has a 52 week low of $50.35 and a 52 week high of $81.00. The company has a current ratio of 2.51, a quick ratio of 1.63 and a debt-to-equity ratio of 0.35.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.40 billion. Nike had a net margin of 5.31% and a return on equity of 36.57%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. equities analysts predict that Nike Inc will post 2.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 5th. Investors of record on Monday, June 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, June 1st. Nike’s dividend payout ratio is currently 33.06%.

Nike announced that its board has approved a share repurchase program on Thursday, June 28th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC lifted its holdings in shares of Nike by 14.4% in the first quarter. Lido Advisors LLC now owns 5,860 shares of the footwear maker’s stock valued at $389,000 after purchasing an additional 737 shares in the last quarter. Sather Financial Group Inc lifted its holdings in shares of Nike by 0.4% in the first quarter. Sather Financial Group Inc now owns 174,859 shares of the footwear maker’s stock valued at $11,618,000 after purchasing an additional 747 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Nike by 1.0% in the first quarter. Coldstream Capital Management Inc. now owns 77,308 shares of the footwear maker’s stock valued at $5,136,000 after purchasing an additional 802 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Nike by 5.4% in the fourth quarter. HBK Sorce Advisory LLC now owns 16,372 shares of the footwear maker’s stock valued at $1,024,000 after purchasing an additional 841 shares in the last quarter. Finally, Sandy Spring Bank lifted its holdings in shares of Nike by 0.6% in the first quarter. Sandy Spring Bank now owns 136,186 shares of the footwear maker’s stock valued at $9,048,000 after purchasing an additional 866 shares in the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on NKE shares. TheStreet raised shares of Nike from a “c+” rating to a “b+” rating in a research report on Thursday, June 28th. Deutsche Bank lifted their price objective on shares of Nike from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, March 23rd. Credit Suisse Group restated a “buy” rating and issued a $78.00 price objective on shares of Nike in a research note on Friday, March 23rd. Nomura set a $74.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Friday, March 23rd. Finally, Barclays set a $75.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Friday, March 23rd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Nike presently has an average rating of “Hold” and an average price target of $76.55.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Insider Buying and Selling by Quarter for Nike (NYSE:NKE)

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