NIKE (NYSE:NKE) Sees Large Volume Increase

Shares of NIKE, Inc. (NYSE:NKE) saw strong trading volume on Monday . 8,145,891 shares were traded during trading, a decline of 21% from the previous session’s volume of 10,259,253 shares.The stock last traded at $75.37 and had previously closed at $75.37.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Sanford C. Bernstein reduced their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research note on Friday. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $109.00 to $80.00 in a research report on Friday. BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. Finally, HSBC decreased their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Hold” and an average target price of $98.96.

NIKE Stock Performance

The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $113.28 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company’s 50 day moving average is $93.28 and its 200-day moving average is $98.85.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the firm posted $0.66 EPS. NIKE’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Iron Horse Wealth Management LLC grew its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Annapolis Financial Services LLC boosted 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 purchasing an additional 220 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the 4th quarter valued at about $29,000. True Wealth Design LLC lifted its stake in shares of 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. Finally, Core Wealth Advisors Inc. grew its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.