NIKE (NYSE:NKE) Trading Up 0.5%

Shares of NIKE, Inc. (NYSE:NKE) were up 0.5% on Tuesday . The stock traded as high as $74.29 and last traded at $73.94. Approximately 2,271,480 shares traded hands during trading, a decline of 80% from the average daily volume of 11,397,215 shares. The stock had previously closed at $73.55.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. BMO Capital Markets lowered their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Truist Financial reduced their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.30.

NIKE Stock Up 0.3 %

The business has a fifty day moving average price of $85.14 and a two-hundred day moving average price of $93.39. The company has a market cap of $111.36 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.89 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued 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 company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, equities analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 323,660 shares of company stock worth $27,973,033 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in NIKE by 3.2% in the second quarter. International Assets Investment Management LLC now owns 5,045 shares of the footwear maker’s stock valued at $380,000 after buying an additional 155 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in NIKE by 2.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 412,763 shares of the footwear maker’s stock worth $31,110,000 after buying an additional 11,664 shares during the period. iA Global Asset Management Inc. grew its holdings in NIKE by 17.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 882,159 shares of the footwear maker’s stock worth $66,488,000 after acquiring an additional 129,890 shares during the last quarter. Boston Financial Mangement LLC increased its position in NIKE by 0.9% in the 2nd quarter. Boston Financial Mangement LLC now owns 18,149 shares of the footwear maker’s stock valued at $1,368,000 after acquiring an additional 169 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in NIKE during the second quarter worth approximately $3,387,000. 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.