NIKE (NYSE:NKE) Trading Up 1.1%

NIKE, Inc. (NYSE:NKE)’s stock price was up 1.1% during trading on Tuesday . The company traded as high as $74.14 and last traded at $73.87. Approximately 7,072,680 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 10,923,007 shares. The stock had previously closed at $73.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NKE shares. UBS Group reaffirmed a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. Bank of America reduced their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $97.19.

NIKE Trading Up 1.2 %

The firm has a market cap of $110.76 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $90.27 and its 200 day simple moving average is $96.47.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. As a group, analysts expect that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 2.02%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Annapolis Financial Services LLC lifted its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $29,000. True Wealth Design LLC grew its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $33,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.