NIKE (NYSE:NKE) Trading 3.3% Higher – Time to Buy?

NIKE, Inc. (NYSE:NKE)’s stock price was up 3.3% during mid-day trading on Tuesday . The company traded as high as $64.06 and last traded at $63.98. Approximately 4,934,901 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 15,056,149 shares. The stock had previously closed at $61.91.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada cut their price target on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Barclays cut their price objective on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Finally, Bank of America decreased their price target on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.26.

NIKE Stock Performance

The stock has a 50-day moving average of $58.80 and a 200-day moving average of $69.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $94.69 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm 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 earned $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm 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 2.50%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling at NIKE

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in NIKE in the first quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE during the 4th quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA increased its position in 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 in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in NIKE in the 4th quarter valued at approximately $30,000. 64.25% of the stock is owned by institutional investors.

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.