NIKE (NYSE:NKE) Shares Up 0.8%

Shares of NIKE, Inc. (NYSE:NKE) rose 0.8% during mid-day trading on Friday . The stock traded as high as $90.13 and last traded at $90.10. Approximately 2,119,842 shares traded hands during trading, a decline of 82% from the average daily volume of 11,554,713 shares. The stock had previously closed at $89.39.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Guggenheim dropped their target price on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Wedbush cut their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. BMO Capital Markets lowered their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Finally, StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.52.

NIKE Stock Up 0.7 %

The stock has a market capitalization of $135.81 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.30 and a beta of 1.02. The stock’s 50 day simple moving average is $79.34 and its 200 day simple moving average is $86.85. 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 announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction 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 owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently made changes to their positions in the business. Cim LLC acquired a new stake in NIKE in the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $1,012,000. Spartan Planning & Wealth Management acquired a new stake in NIKE in the fourth quarter worth about $182,000. Advisors Asset Management Inc. grew its position in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares in the last quarter. Finally, Enzi Wealth bought a new stake in shares of NIKE during the 4th quarter worth about $520,000. 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.