NIKE (NYSE:NKE) Stock Price Up 4.1%

NIKE, Inc. (NYSE:NKE) traded up 4.1% on Thursday . The company traded as high as $82.13 and last traded at $81.73. 7,627,040 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 11,447,339 shares. The stock had previously closed at $78.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NKE shares. BMO Capital Markets decreased their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Telsey Advisory Group decreased their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Oppenheimer reiterated an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Truist Financial lowered their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.30.

NIKE Price Performance

The company has a fifty day simple moving average of $80.70 and a 200-day simple moving average of $91.14. The company has a market cap of $124.52 billion, a P/E ratio of 21.91, a PEG ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

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 paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Annapolis Financial Services LLC raised its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC lifted its holdings 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 acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $33,000. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE during the 4th quarter worth about $36,000. 64.25% of the stock is 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.