NIKE (NYSE:NKE) Shares Up 0.3%

NIKE, Inc. (NYSE:NKE)’s share price traded up 0.3% on Friday . The stock traded as high as $84.24 and last traded at $83.62. 1,638,173 shares were traded during trading, a decline of 86% from the average session volume of 11,420,322 shares. The stock had previously closed at $83.41.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. HSBC cut their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $109.00 to $80.00 in a research note on Friday, June 28th. Finally, The Goldman Sachs Group cut their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.93.

NIKE Stock Performance

The firm has a market capitalization of $126.86 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.92 and a beta of 1.01. The stock’s fifty day moving average is $79.07 and its two-hundred day moving average is $90.23. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its earnings results 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 business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. On average, analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers boosted its stake in shares of NIKE by 6.8% in the second quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock valued at $17,351,000 after buying an additional 14,584 shares during the period. Truist Financial Corp lifted its position in shares of NIKE by 120.1% during the 2nd quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker’s stock valued at $107,826,000 after acquiring an additional 780,507 shares during the period. EP Wealth Advisors LLC lifted its position in shares of NIKE by 37.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 346,650 shares of the footwear maker’s stock valued at $26,127,000 after acquiring an additional 95,117 shares during the period. Kimelman & Baird LLC bought a new position in shares of NIKE in the second quarter worth $14,468,000. Finally, Ecofi Investissements SA bought a new position in shares of NIKE in the second quarter worth $49,000. 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.