NIKE (NYSE:NKE) Trading Up 0.7% – Still a Buy?

NIKE, Inc. (NYSE:NKE)’s stock price traded up 0.7% on Monday . The company traded as high as $63.99 and last traded at $63.75. 4,805,957 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 12,899,907 shares. The stock had previously closed at $63.29.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Monday, March 17th. BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Up 2.0 %

The firm has a market cap of $95.81 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.52 and a beta of 1.02. The business’s 50-day moving average is $73.84 and its 200-day moving average is $76.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. PDT Partners LLC bought a new stake in NIKE during the 3rd quarter worth about $229,000. Erste Asset Management GmbH bought a new stake in shares of NIKE during the third quarter worth approximately $1,688,000. Benjamin Edwards Inc. boosted its stake in NIKE by 3,520.3% in the third quarter. Benjamin Edwards Inc. now owns 106,146 shares of the footwear maker’s stock valued at $9,383,000 after acquiring an additional 103,214 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in NIKE by 74.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 7,832 shares of the footwear maker’s stock worth $692,000 after acquiring an additional 3,352 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of NIKE by 76.0% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 23,154 shares of the footwear maker’s stock valued at $2,047,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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.