NIKE (NYSE:NKE) Stock Price Up 2.3%

NIKE, Inc. (NYSE:NKE) was up 2.3% during trading on Monday . The stock traded as high as $74.43 and last traded at $74.40. Approximately 6,726,255 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 11,329,795 shares. The stock had previously closed at $72.70.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. TD Cowen decreased their target price on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, Telsey Advisory Group lowered their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $96.44.

NIKE Trading Down 3.1 %

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 $107.36 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.95 and a beta of 1.01. The business’s 50 day moving average price is $86.30 and its two-hundred day moving average price is $94.12.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS 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 company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 323,660 shares of company stock worth $27,973,033. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the fourth quarter worth $29,000. True Wealth Design LLC boosted its position in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in NIKE in the 4th quarter valued at $33,000. Hedge funds and other 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.