NIKE (NYSE:NKE) Shares Up 1.1%

NIKE, Inc. (NYSE:NKE)’s share price traded up 1.1% on Thursday . The stock traded as high as $73.75 and last traded at $73.32. 4,267,730 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 11,081,117 shares. The stock had previously closed at $72.54.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Williams Trading restated a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Robert W. Baird reduced their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.19.

NIKE Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market cap of $110.77 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The stock’s 50-day simple moving average is $90.27 and its two-hundred day simple moving average is $96.47.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping 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 firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last quarter. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently bought and sold shares of the company. Buffington Mohr McNeal grew its holdings in shares of NIKE by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 13,373 shares of the footwear maker’s stock valued at $1,008,000 after purchasing an additional 500 shares during the last quarter. Pacifica Partners Inc. grew its stake in shares of NIKE by 1,558.9% in the second quarter. Pacifica Partners Inc. now owns 16,207 shares of the footwear maker’s stock worth $1,220,000 after acquiring an additional 15,230 shares during the period. First Financial Corp IN lifted its holdings in NIKE by 2.6% in the second quarter. First Financial Corp IN now owns 10,187 shares of the footwear maker’s stock valued at $768,000 after acquiring an additional 261 shares during the period. Cedar Mountain Advisors LLC boosted its stake in shares of NIKE by 4.1% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 4,993 shares of the footwear maker’s stock worth $376,000 after acquiring an additional 198 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its stake in NIKE by 3.4% during the 2nd quarter. Wesbanco Bank Inc. now owns 131,490 shares of the footwear maker’s stock worth $9,910,000 after acquiring an additional 4,353 shares during the period. 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.