NIKE (NYSE:NKE) Trading 4.5% Higher

NIKE, Inc. (NYSE:NKE) shares rose 4.5% during trading on Tuesday . The stock traded as high as $77.98 and last traded at $77.98. Approximately 5,439,004 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 11,350,429 shares. The stock had previously closed at $74.64.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. TD Cowen dropped their price target on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Stifel Nicolaus restated a “hold” rating and set a $88.00 price target (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Hold” and a consensus target price of $96.30.

NIKE Trading Up 3.2 %

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 stock has a market cap of $122.36 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.92 and a beta of 1.01. The business has a 50-day simple moving average of $80.70 and a two-hundred day simple moving average of $91.14.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently made changes to their positions in NKE. Dark Forest Capital Management LP bought a new position in NIKE during the 2nd quarter worth approximately $333,000. Daymark Wealth Partners LLC raised its stake in NIKE by 1.7% during the second quarter. Daymark Wealth Partners LLC now owns 111,561 shares of the footwear maker’s stock worth $8,408,000 after buying an additional 1,896 shares during the last quarter. Delta Investment Management LLC lifted its holdings in NIKE by 179.5% in the second quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock valued at $621,000 after buying an additional 5,287 shares during the period. DoubleLine ETF Adviser LP bought a new stake in NIKE during the second quarter valued at $2,454,000. Finally, EDENTREE ASSET MANAGEMENT Ltd raised its position in shares of NIKE by 7.6% in the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock worth $9,953,000 after acquiring an additional 9,350 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.