NIKE (NYSE:NKE) Shares Up 0.3%

NIKE, Inc. (NYSE:NKE) traded up 0.3% on Monday . The company traded as high as $83.94 and last traded at $83.49. 2,177,552 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 11,501,943 shares. The stock had previously closed at $83.23.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen decreased their price target on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group decreased their price target on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $109.00 to $80.00 in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

NIKE Trading Up 0.5 %

The firm has a 50-day moving average of $79.67 and a 200 day moving average of $90.52. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $126.79 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 company’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 approximately $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC grew its position in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC boosted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Core Wealth Advisors Inc. boosted its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE in the 4th quarter worth approximately $33,000. Finally, Gold Investment Management Ltd. acquired a new position in NIKE in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds 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.