NIKE (NYSE:NKE) Shares Up 0.8% – Here’s Why

NIKE, Inc. (NYSE:NKE)’s share price traded up 0.8% on Friday . The stock traded as high as $83.54 and last traded at $82.73. 2,490,147 shares were traded during mid-day trading, a decline of 79% from the average session volume of 11,743,200 shares. The stock had previously closed at $82.10.

Analyst Ratings Changes

Several equities research analysts have commented on NKE shares. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Jefferies Financial Group raised their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday. The Goldman Sachs Group reduced their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Barclays lowered their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley raised their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.04.

NIKE Trading Up 0.5 %

The stock’s fifty day simple moving average is $80.71 and its 200-day simple moving average is $86.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market cap of $124.51 billion, a PE ratio of 22.17, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in NKE. Kampmann Melissa S. boosted its stake in shares of NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares in the last quarter. Ascent Wealth Partners LLC lifted its position in shares of NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management increased its stake in NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares during the period. Bell Investment Advisors Inc raised its holdings in shares of NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after acquiring an additional 118 shares in the last quarter. Finally, Lodestone Wealth Management LLC raised its position in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after acquiring an additional 118 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.