NIKE (NYSE:NKE) Shares Up 0.8% – Should You Buy?

Shares of NIKE, Inc. (NYSE:NKE) traded up 0.8% during mid-day trading on Wednesday . The company traded as high as $82.94 and last traded at $82.74. 1,243,063 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 11,687,001 shares. The stock had previously closed at $82.12.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. TD Cowen upped their price target on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Citigroup dropped their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Stifel Nicolaus dropped their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Finally, Wells Fargo & Company upped their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Up 2.3 %

The company has a market capitalization of $126.83 billion, a PE ratio of 22.18, a P/E/G ratio of 1.96 and a beta of 1.02. The business has a 50-day moving average of $82.05 and a 200 day moving average of $85.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

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

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were 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 owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Several large investors have recently bought and sold shares of NKE. Rheos Capital Works Inc. purchased a new stake in shares of NIKE in the 3rd quarter valued at $11,492,000. B.O.S.S. Retirement Advisors LLC lifted its stake in shares of NIKE by 7.6% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 38,864 shares of the footwear maker’s stock valued at $3,436,000 after purchasing an additional 2,730 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of NIKE by 25.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,442,216 shares of the footwear maker’s stock valued at $304,292,000 after purchasing an additional 699,642 shares during the period. Roberts Wealth Advisors LLC lifted its stake in shares of NIKE by 57.4% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 51,807 shares of the footwear maker’s stock valued at $4,184,000 after purchasing an additional 18,893 shares during the period. Finally, Bill Few Associates Inc. acquired a new position in NIKE during the third quarter worth $208,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.