NIKE (NYSE:NKE) Shares Up 0.1% Following Analyst Upgrade

NIKE, Inc. (NYSE:NKE)’s stock price traded up 0.1% on Tuesday after Jefferies Financial Group raised their price target on the stock from $80.00 to $85.00. Jefferies Financial Group currently has a hold rating on the stock. NIKE traded as high as $88.69 and last traded at $88.48. 2,963,512 shares were traded during trading, a decline of 74% from the average session volume of 11,551,281 shares. The stock had previously closed at $88.40.

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Evercore ISI lifted their target price on shares of NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. TD Cowen dropped their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, Guggenheim dropped their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.70.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction 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 sale, 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. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC lifted its stake in shares of 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 grew its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE in the 4th quarter worth about $33,000. Core Wealth Advisors Inc. raised its position in 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. Finally, Pineridge Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $38,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.1 %

The business’s fifty day moving average is $79.94 and its 200-day moving average is $86.49. The firm has a market cap of $133.55 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 2.30 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.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.67%. NIKE’s 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.