NIKE, Inc. (NYSE:NKE) Director Acquires $191,625.00 in Stock

NIKE, Inc. (NYSE:NKE) Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

NIKE Stock Performance

Shares of NYSE NKE traded down $1.77 during midday trading on Monday, hitting $74.65. 9,031,022 shares of the company’s stock were exchanged, compared to its average volume of 11,645,851. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $111.93 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $107.85. The company’s 50 day moving average price is $77.33 and its 200 day moving average price is $79.66.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

Institutional Investors Weigh In On NIKE

Hedge funds have recently bought and sold shares of the stock. IFG Advisory LLC bought a new position in NIKE during the 2nd quarter worth $241,000. Sage Mountain Advisors LLC increased its position in NIKE by 10.7% during the second quarter. Sage Mountain Advisors LLC now owns 3,642 shares of the footwear maker’s stock worth $275,000 after acquiring an additional 352 shares during the period. Confluence Wealth Services Inc. raised its stake in NIKE by 24.9% in the 2nd quarter. Confluence Wealth Services Inc. now owns 11,088 shares of the footwear maker’s stock worth $836,000 after purchasing an additional 2,213 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in NIKE by 13.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 29,840 shares of the footwear maker’s stock valued at $2,293,000 after purchasing an additional 3,477 shares during the period. Finally, Nilsine Partners LLC grew its position in shares of NIKE by 17.2% during the 2nd quarter. Nilsine Partners LLC now owns 10,711 shares of the footwear maker’s stock worth $807,000 after purchasing an additional 1,573 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Truist Financial dropped their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday. Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.58.

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.