NIKE (NYSE:NKE) Stock Price Up 0.4%

NIKE, Inc. (NYSE:NKE)’s stock price rose 0.4% during trading on Wednesday . The company traded as high as $84.24 and last traded at $83.87. Approximately 2,032,272 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 11,468,978 shares. The stock had previously closed at $83.56.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial cut their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Robert W. Baird lowered their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. The Goldman Sachs Group decreased their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Telsey Advisory Group lowered their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.93.

NIKE Price Performance

The company has a market capitalization of $126.86 billion, a P/E ratio of 22.42, a price-to-earnings-growth 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. The firm’s 50-day moving average is $79.26 and its 200-day moving average is $90.42.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the business posted $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The business 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 dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on 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 completion of 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 accessible through the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of NKE. Cetera Investment Advisers increased its holdings in NIKE by 6.8% in the 2nd quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock valued at $17,351,000 after acquiring an additional 14,584 shares during the last quarter. Truist Financial Corp increased its holdings in shares of NIKE by 120.1% in the second quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker’s stock worth $107,826,000 after purchasing an additional 780,507 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of NIKE by 37.8% in the second quarter. EP Wealth Advisors LLC now owns 346,650 shares of the footwear maker’s stock worth $26,127,000 after buying an additional 95,117 shares in the last quarter. Kimelman & Baird LLC bought a new position in NIKE during the second quarter valued at approximately $14,468,000. Finally, Ecofi Investissements SA purchased a new position in NIKE during the 2nd quarter valued at approximately $49,000. 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.