NIKE (NYSE:NKE) Shares Up 2.2%

NIKE, Inc. (NYSE:NKE) shares shot up 2.2% on Tuesday . The company traded as high as $73.05 and last traded at $73.00. 2,751,621 shares changed hands during trading, a decline of 76% from the average session volume of 11,403,376 shares. The stock had previously closed at $71.42.

Analysts Set New Price Targets

Several equities research analysts have commented on NKE shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a report on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday, June 28th. UBS Group reaffirmed a “neutral” rating and issued a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Wells Fargo & Company lowered their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE 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. According to MarketBeat, NIKE has a consensus rating of “Hold” and a consensus target price of $96.30.

NIKE Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market cap of $109.43 billion, a PE ratio of 19.54, a PEG ratio of 1.92 and a beta of 1.01. The stock’s 50-day moving average is $83.31 and its two-hundred day moving average is $92.37.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. On average, equities analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. 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 2.04%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders have sold a total of 278,660 shares of company stock worth $23,735,833 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caprock Group LLC raised its stake in NIKE by 8.8% during the 2nd quarter. Caprock Group LLC now owns 22,090 shares of the footwear maker’s stock worth $1,673,000 after acquiring an additional 1,792 shares in the last quarter. Financial Gravity Asset Management Inc. raised its stake in NIKE by 20.3% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 17,494 shares of the footwear maker’s stock worth $1,318,000 after acquiring an additional 2,948 shares in the last quarter. Acadian Asset Management LLC raised its stake in NIKE by 306.9% during the 2nd quarter. Acadian Asset Management LLC now owns 270,462 shares of the footwear maker’s stock worth $20,379,000 after acquiring an additional 203,990 shares in the last quarter. Gallacher Capital Management LLC raised its stake in NIKE by 17.7% during the 2nd quarter. Gallacher Capital Management LLC now owns 3,336 shares of the footwear maker’s stock worth $251,000 after acquiring an additional 501 shares in the last quarter. Finally, Asset Dedication LLC raised its stake in NIKE by 31.4% during the 2nd quarter. Asset Dedication LLC now owns 46,488 shares of the footwear maker’s stock worth $3,504,000 after acquiring an additional 11,104 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.