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

NIKE, Inc. (NYSE:NKE) shares saw unusually-strong trading volume on Monday after an insider bought additional shares in the company. Approximately 8,145,891 shares changed 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, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NKE shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Evercore ISI lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Wedbush lowered their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Telsey Advisory Group lowered their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.04.

NIKE Stock Performance

The stock has a market cap of $114.80 billion, a P/E ratio of 20.39, a PEG ratio of 1.43 and a beta of 1.01. The business has a 50 day moving average price of $92.94 and a 200 day moving average price of $98.54. 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 released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 3.47 EPS for the current year.

NIKE Announces Dividend

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

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors lifted its holdings in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Norges Bank purchased a new stake in shares of NIKE during the 4th quarter valued at $1,315,097,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.