NIKE (NYSE:NKE) Stock Price Up 0.3%

NIKE, Inc. (NYSE:NKE)’s stock price shot up 0.3% on Friday . The stock traded as high as $84.24 and last traded at $83.62. 1,638,173 shares traded hands during trading, a decline of 86% from the average session volume of 11,420,322 shares. The stock had previously closed at $83.41.

Analysts Set New Price Targets

Several brokerages have weighed in on NKE. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a report on Friday, June 28th. UBS Group reaffirmed a “neutral” rating and set a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Citigroup lowered their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $88.00 price target (down previously from $117.00) on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.93.

NIKE Price Performance

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 firm has a market cap of $126.73 billion, a P/E ratio of 22.42, a PEG ratio of 1.92 and a beta of 1.01. The stock’s 50-day simple moving average is $79.26 and its two-hundred day simple moving average is $90.42.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC lifted its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Core Wealth Advisors Inc. lifted its position in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at about $33,000. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE during the fourth quarter valued at about $36,000. 64.25% of the stock is owned by hedge funds and other 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.