NIKE (NYSE:NKE) Stock Price Up 5.4% on Analyst Upgrade

Shares of NIKE, Inc. (NYSE:NKE) shot up 5.4% on Friday after Wells Fargo & Company raised their price target on the stock from $86.00 to $95.00. Wells Fargo & Company currently has an overweight rating on the stock. NIKE traded as high as $88.00 and last traded at $85.36. 20,408,793 shares were traded during trading, an increase of 80% from the average session volume of 11,332,746 shares. The stock had previously closed at $80.98.

A number of other analysts have also recently weighed in on NKE. Telsey Advisory Group lowered their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Guggenheim reduced their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Bank of America lowered their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Evercore ISI boosted their price objective on NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’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 transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the 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 owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Several large investors have recently modified their holdings of NKE. 9258 Wealth Management LLC raised its stake in shares of NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of NIKE by 34.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after buying an additional 2,981 shares during the period. TrinityPoint Wealth LLC grew its stake in shares of NIKE by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after buying an additional 166 shares in the last quarter. GW&K Investment Management LLC raised 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 buying an additional 126 shares during the period. Finally, WBI Investments LLC acquired a new position in NIKE during the 4th quarter worth about $1,084,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 5.4 %

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 market capitalization of $128.84 billion, a PE ratio of 22.88, a PEG ratio of 2.08 and a beta of 1.02. The business has a fifty day moving average of $77.84 and a 200 day moving average of $87.23.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.73%. 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.