NIKE (NYSE:NKE) Stock Price Up 0.3%

NIKE, Inc. (NYSE:NKE) shares rose 0.3% on Friday . The stock traded as high as $72.66 and last traded at $72.61. Approximately 2,522,515 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 11,295,104 shares. The stock had previously closed at $72.38.

Analyst Ratings Changes

Several equities analysts recently commented on NKE shares. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. HSBC cut their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Sanford C. Bernstein dropped their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.44.

NIKE Stock Down 0.6 %

The stock’s fifty day moving average is $87.82 and its two-hundred day moving average is $95.08. 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 $108.61 billion, a PE ratio of 19.47, a P/E/G ratio of 1.90 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Robert Holmes Swan acquired 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 purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cim LLC bought a new position in NIKE during the 4th quarter valued at about $14,275,000. TKG Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $1,012,000. Louisiana State Employees Retirement System bought a new position in shares of NIKE during the fourth quarter valued at approximately $8,034,000. Brown Advisory Inc. grew its stake in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after buying an additional 192,752 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Hedge funds and other 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.