NIKE (NYSE:NKE) Stock Price Up 1.7% After Analyst Upgrade

NIKE, Inc. (NYSE:NKE) shares traded up 1.7% during mid-day trading on Thursday after Barclays raised their price target on the stock from $80.00 to $84.00. Barclays currently has an equal weight rating on the stock. NIKE traded as high as $83.12 and last traded at $82.26. 1,785,995 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 11,209,227 shares. The stock had previously closed at $80.90.

NKE has been the topic of several other research reports. HSBC reduced their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group decreased their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Robert W. Baird lowered their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Truist Financial reduced their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.33.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 in the company, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Beta Wealth Group Inc. boosted its position in shares of NIKE by 2.3% during the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after acquiring an additional 101 shares in the last quarter. Kampmann Melissa S. grew its holdings in NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management grew its stake in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

The stock has a market capitalization of $123.53 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a 50-day simple moving average of $77.69 and a 200 day simple moving average of $87.28.

NIKE (NYSE:NKE) last issued its 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. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, equities analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

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.