NIKE (NYSE:NKE) Stock Price Up 0.4%

NIKE, Inc. (NYSE:NKE)’s stock price traded up 0.4% on Tuesday . The company traded as high as $84.65 and last traded at $84.62. 4,470,552 shares were traded during trading, a decline of 61% from the average session volume of 11,402,532 shares. The stock had previously closed at $84.28.

Analyst Ratings Changes

Several research firms recently issued reports on NKE. Raymond James reissued a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. TD Cowen cut their target price on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Citigroup lowered their price target on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Evercore ISI cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen investment 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 target price of $95.59.

NIKE Price Performance

The business has a fifty day moving average price of $78.67 and a 200-day moving average price of $89.86. The stock has a market capitalization of $124.96 billion, a PE ratio of 22.20, a PEG ratio of 1.92 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during 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 firm posted $0.66 earnings per share. Research analysts expect that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC grew its holdings 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 period. True Wealth Design LLC raised its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $33,000. Core Wealth Advisors Inc. increased its position in shares of 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 acquiring an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. bought a new position in NIKE in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.