NIKE (NYSE:NKE) Trading 1.1% Higher

Shares of NIKE, Inc. (NYSE:NKE) rose 1.1% during trading on Friday . The company traded as high as $72.71 and last traded at $72.20. Approximately 2,121,209 shares were traded during trading, a decline of 81% from the average daily volume of 11,420,154 shares. The stock had previously closed at $71.41.

Analyst Ratings Changes

Several research analysts have recently issued reports on NKE shares. Evercore ISI lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Telsey Advisory Group dropped their price target 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. Raymond James reissued a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Bank of America lowered their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Hold” and a consensus price target of $96.30.

NIKE Price Performance

The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $85.90 and a 200 day moving average of $93.96. The firm has a market capitalization of $109.50 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insiders Place Their Bets

In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 323,660 shares of company stock valued at $27,973,033 over the last 90 days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Piscataqua Savings Bank increased its holdings in shares of NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares during the last quarter. Physicians Financial Services Inc. increased its stake in shares of NIKE by 0.6% in the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after acquiring an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. raised its holdings in shares of NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after acquiring an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in shares of NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of NIKE by 0.8% in the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after purchasing an additional 101 shares during the period. 64.25% of the stock is currently owned by hedge funds and other 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.