NIKE (NYSE:NKE) Posts Quarterly Earnings Results

NIKE (NYSE:NKE) released its quarterly earnings data on Thursday. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26, Briefing.com reports. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis.

NIKE Stock Down 1.9 %

NYSE NKE traded down $1.38 during midday trading on Thursday, hitting $71.61. 20,783,844 shares of the company traded hands, compared to its average volume of 13,145,866. NIKE has a 52 week low of $68.62 and a 52 week high of $101.92. The company’s 50-day simple moving average is $74.76 and its 200-day simple moving average is $77.60. The company has a market cap of $105.92 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Ratings Changes

Several research analysts have commented on NKE shares. Needham & Company LLC dropped their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.54.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NIKE stock. Brighton Jones LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 388.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,411 shares of the footwear maker’s stock after buying an additional 160,980 shares during the quarter. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.