Nike Inc. (NYSE:NKE) executive Monique S. Matheson has engaged in significant trading activity, according to recent filings with the Securities and Exchange Commission. Matheson, serving as the company's Executive Vice President and Chief Human Resources Officer (CHRO), sold 45,000 shares of Nike Class B Common Stock at prices ranging from $94.16 to $94.23, realizing a total of approximately $4.24 million from the sale.
The transactions occurred on May 7, 2024, and were disclosed in a filing dated May 8. It should be noted that these trades were made in accordance with company policy, which allows officers and directors to trade company stock after the first full trading day following the release of quarterly earnings.
In addition to the sale, Matheson also acquired 45,000 shares through option exercises priced at $77.54 per share, totaling approximately $3.49 million. These shares pertain to non-qualified stock options granted on August 1, 2018, which became exercisable in increments of 25% on each anniversary of the grant date.
Following these transactions, Matheson's direct holdings in Nike stock have adjusted to a total of 44,997.3276 shares. Additionally, it is reported that Matheson has an indirect ownership of 12,025 shares held in a retirement plan account under the Nike, Inc. 401(k) Savings and Profit Sharing Plan.
Investors often look to insider trading activities to gain insights into executive sentiment about their company's stock. The recent trades by a high-ranking Nike executive may thus be of interest to current and potential shareholders.
The company's stock, with the ticker NYSE:NKE, is often watched closely by market participants for signs of executive confidence and strategic moves within the organization.
InvestingPro Insights
Nike Inc. (NYSE:NKE), a prominent player in the Textiles, Apparel & Luxury Goods industry, has been demonstrating financial resilience and investor commitment. The company has a history of maintaining its dividend payments, with a track record of 41 consecutive years of dividend distribution. This is a testament to Nike's stable cash flows, which can sufficiently cover its interest payments, indicating a strong financial position.
According to recent data from InvestingPro, Nike's market capitalization stands at a robust $141.26 billion, reflecting its significant presence in the market. The company's Price to Earnings (P/E) ratio is currently 27.17, which is in line with its adjusted P/E ratio for the last twelve months as of Q3 2024 at 27.0. Despite the challenges faced in the market, Nike's gross profit margin remains strong at 44.3%, showcasing the company's efficiency in maintaining profitability.
For investors considering Nike's stock, it's noteworthy that the company is trading near its 52-week low, which could suggest a potential entry point for value investors. Additionally, Nike's liquid assets exceed its short-term obligations, providing financial stability and the ability to manage short-term liabilities effectively.
For those looking for more in-depth analysis, InvestingPro offers a range of additional tips. There are 11 more InvestingPro Tips available for Nike, which can be accessed at https://www.investing.com/pro/NKE. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain valuable insights into Nike's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.