NIKE (NYSE:NKE) Trading 1.1% Higher – What’s Next?

NIKE, Inc. (NYSE:NKE) shares traded up 1.1% on Tuesday . The stock traded as high as $63.19 and last traded at $62.79. 3,013,167 shares were traded during trading, a decline of 80% from the average session volume of 14,789,228 shares. The stock had previously closed at $62.08.

Analyst Ratings Changes

Several analysts recently weighed in on the company. China Renaissance assumed coverage on NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating on the stock. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Citigroup lowered their price objective on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group cut their target price on NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased their price target on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.26.

NIKE Trading Up 1.5%

The stock’s fifty day moving average price is $60.84 and its 200 day moving average price is $70.54. The stock has a market cap of $93.24 billion, a P/E ratio of 19.35, a PEG ratio of 2.52 and a beta of 1.23. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC purchased a new position in NIKE in the fourth quarter valued at $30,000. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $25,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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.