NIKE (NYSE:NKE) Stock Price Up 0.3%

NIKE, Inc. (NYSE:NKE)’s stock price rose 0.3% during mid-day trading on Monday . The company traded as high as $84.30 and last traded at $84.28. Approximately 1,734,162 shares were traded during trading, a decline of 85% from the average daily volume of 11,407,489 shares. The stock had previously closed at $84.05.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company 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 for the company in a research note on Friday, June 28th. Wedbush reduced their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company reduced their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Performance

The firm has a market cap of $124.96 billion, a P/E ratio of 22.20, a PEG ratio of 1.92 and a beta of 1.01. The stock’s 50 day moving average is $78.67 and its two-hundred day moving average is $89.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.79%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were bought 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 owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several large investors have recently bought and sold shares of the business. Farmers National Bank lifted its holdings in NIKE by 3.8% in the second quarter. Farmers National Bank now owns 8,072 shares of the footwear maker’s stock valued at $608,000 after buying an additional 297 shares during the period. Heritage Oak Wealth Advisors LLC acquired a new position in NIKE in the second quarter valued at approximately $351,000. Teachers Retirement System of The State of Kentucky lifted its holdings in NIKE by 1.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 245,406 shares of the footwear maker’s stock valued at $18,495,000 after buying an additional 4,615 shares during the period. Cetera Investment Advisers lifted its holdings in NIKE by 6.8% in the second quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock valued at $17,351,000 after buying an additional 14,584 shares during the period. Finally, Truist Financial Corp lifted its holdings in NIKE by 120.1% in the second quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker’s stock valued at $107,826,000 after buying an additional 780,507 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

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.