NIKE (NYSE:NKE) Stock Price Up 2% After Analyst Upgrade

NIKE, Inc. (NYSE:NKE)’s stock price was up 2% during trading on Thursday after Morgan Stanley raised their price target on the stock from $79.00 to $82.00. Morgan Stanley currently has an equal weight rating on the stock. NIKE traded as high as $90.57 and last traded at $89.80. Approximately 3,758,156 shares changed hands during trading, a decline of 67% from the average daily volume of 11,554,713 shares. The stock had previously closed at $88.00.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $92.00 price objective on shares of NIKE in a research report on Friday, September 20th. Royal Bank of Canada boosted their price target on NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday. HSBC decreased their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Citigroup dropped their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $100.00 price target on shares of NIKE in a report on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.52.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’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 of the company’s stock, 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.

Institutional Trading of NIKE

Several large investors have recently made changes to their positions in the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $33,000. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the fourth quarter worth $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 1.5 %

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 company has a fifty day simple moving average of $79.00 and a 200-day simple moving average of $86.83. The company has a market capitalization of $134.79 billion, a PE ratio of 24.08, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during 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% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. Analysts predict that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.66%. NIKE’s dividend payout ratio is currently 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.