NIKE (NYSE:NKE) Stock Price Up 1.5% – What’s Next?

NIKE, Inc. (NYSE:NKE) traded up 1.5% on Wednesday . The stock traded as high as $82.12 and last traded at $81.96. 2,517,925 shares were traded during trading, a decline of 79% from the average session volume of 11,735,392 shares. The stock had previously closed at $80.77.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKE. Citigroup dropped their price objective 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. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. The Goldman Sachs Group reduced their price objective on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Guggenheim decreased their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Up 0.1 %

The company’s 50 day simple moving average is $81.49 and its two-hundred day simple moving average is $85.77. The company has a market capitalization of $123.17 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company posted $0.94 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. NIKE’s dividend payout ratio (DPR) is 42.41%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was 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 of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’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 transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of NKE. Procyon Advisors LLC boosted its position in NIKE by 389.9% in the 3rd quarter. Procyon Advisors LLC now owns 28,100 shares of the footwear maker’s stock worth $2,485,000 after purchasing an additional 22,364 shares in the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Smith Chas P & Associates PA Cpas acquired a new stake in NIKE during the third quarter valued at $220,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in NIKE by 32.7% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 2,261 shares of the footwear maker’s stock valued at $200,000 after buying an additional 557 shares in the last quarter. Finally, Lake Hills Wealth Management LLC purchased a new position in NIKE in the third quarter valued at $229,000. 64.25% of the stock is 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.