NIKE (NYSE:NKE) Trading 0.9% Higher

NIKE, Inc. (NYSE:NKE)’s share price was up 0.9% during mid-day trading on Tuesday . The stock traded as high as $80.65 and last traded at $80.53. Approximately 1,544,997 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 11,248,108 shares. The stock had previously closed at $79.80.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. TD Cowen reduced their target price on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group decreased their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.33.

NIKE Stock Performance

The company has a 50-day moving average of $77.69 and a 200-day moving average of $87.28. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $122.21 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

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, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’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 sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’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 completion of 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 Investors Weigh In On NIKE

A number of large investors have recently made changes to their positions in NKE. 9258 Wealth Management LLC grew its holdings in shares of NIKE by 23.9% during the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after buying an additional 842 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after acquiring an additional 2,981 shares during the period. TrinityPoint Wealth LLC grew its stake in NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after acquiring an additional 166 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of NIKE by 26.4% in the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after purchasing an additional 126 shares during the period. Finally, Assetmark Inc. lifted its position in shares of NIKE by 23.8% in the fourth quarter. Assetmark Inc. now owns 155,913 shares of the footwear maker’s stock worth $16,927,000 after purchasing an additional 29,930 shares in the last quarter. 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.