Following the transaction, the executive vice president now directly owns 80,355 shares of the company’s stock, valued at approximately $8,312,724.75.
The stock was sold at an average price of $103.45, for a total transaction of $2,017,275.00. Matheson sold 19,500 shares of the stock in a transaction on Tuesday, July 5th. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued. This repurchase authorization authorizes the footwear maker to reacquire up to 11% of its stock through open market purchases. NIKE announced that its board has authorized a stock repurchase program on Monday, June 27th that authorizes the company to repurchase $18.00 billion in outstanding shares. Equities research analysts expect that NIKE will post 3.6 earnings per share for the current year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. NIKE’s revenue for the quarter was up 3.7% compared to the same quarter last year.
NIKE had a return on equity of 37.08% and a net margin of 11.96%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.28 billion. The footwear maker reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. NIKE ( NYSE:NKE – Get Rating) last posted its quarterly earnings results on Thursday, September 29th. According to, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.62. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Finally, Wedbush lowered their price objective on NIKE from $121.00 to $101.00 in a research note on Friday. UBS Group lowered their price objective on NIKE from $156.00 to $141.00 and set a “buy” rating for the company in a research note on Friday. HSBC lowered their price objective on NIKE from $140.00 to $132.00 and set a “hold” rating for the company in a research note on Tuesday, June 14th. Piper Sandler lowered their target price on NIKE from $115.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup lowered their target price on NIKE from $113.00 to $93.00 and set a “neutral” rating for the company in a research note on Friday. NKE has been the subject of several other research reports. The Goldman Sachs Group’s price target would suggest a potential upside of 15.48% from the company’s current price. The firm currently has a “buy” rating on the footwear maker’s stock. NIKE ( NYSE:NKE – Get Rating) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $120.00 to $98.00 in a research note issued to investors on Friday, Marketbeat Ratings reports.
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