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NIKE's chairman sold 169,732 shares at an average price of $72.83, reducing his ownership by 15.92% to 896,632 shares valued at $65.3 million. Institutional investors hold 64.25% of the stock, with recent changes including new stakes from Teachers Insurance and Caitlin John LLC. Analysts have mixed ratings, with a consensus price target of $87.38, while JPMorgan lowered its target to $64.00, suggesting a potential downside.
A director acquired 2,500 shares of NIKE at an average price of $76.65, increasing their ownership by 7.84% to a total of 34,403 shares valued at approximately $2.64 million. Institutional investors hold 64.25% of the company, while analysts maintain a "Moderate Buy" rating with a consensus price target of $88.27. Recently, UBS Group lowered its target price for NIKE from $73.00 to $66.00, indicating a potential downside.
The chairman of NIKE now holds 896,632 shares valued at approximately $65.3 million, reflecting a 15.92% decrease in ownership. Institutional investors own 64.25% of the stock, with recent analyst price targets for NIKE ranging from $70 to $82, indicating a "Moderate Buy" rating. The company reported a quarterly revenue of $11.27 billion, surpassing expectations, despite a year-over-year decline.
A director now owns 34,403 shares of the company, valued at approximately $2.6 million, following a 7.84% increase in their position. Hedge funds hold 64.25% of the stock, with several making recent investments. Analysts have lowered NIKE's price target, with a consensus rating of "Moderate Buy" and a target of $88.96.
NIKE's stock has seen a 15.92% decrease in insider ownership, with corporate insiders holding 1.10% of shares. Institutional investors own 64.25% of the company, with several firms increasing their stakes. Analysts have lowered price targets, with Morgan Stanley setting it at $70, indicating a potential downside. The company reported a quarterly EPS of $0.54, surpassing estimates, despite a 9.1% revenue decline year-over-year. Recent insider activity includes a purchase by Director John W. Rogers, Jr. and a significant sale by Chairman Mark G. Parker.
NIKE, Inc. (NYSE:NKE) has a "Moderate Buy" rating with a consensus price target of $89.77. The company reported a quarterly EPS of $0.78, exceeding estimates, but revenue fell 7.7% year-over-year. A quarterly dividend of $0.40 per share will be paid on April 1st, with a yield of 2.03%.
Stock futures fell as the Dow Jones Industrial Average ended a three-day winning streak, closing down over 344 points. General Motors raised its 2024 earnings guidance after surpassing estimates, while Disney announced James Gorman as its new chairman and delayed the CEO succession plan to early 2026. Donald Trump's tax proposals could exempt income taxes for 93.2 million Americans but may jeopardize Social Security's funding, while Nike secured a renewed, larger contract as the exclusive uniform provider for the NBA and WNBA for another 12 years.
Mark Parker
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