NIKE (NYSE:NKE) Stock Price Up 1.7% on Analyst Upgrade

NIKE, Inc. (NYSE:NKE) shares shot up 1.7% on Thursday after Barclays raised their price target on the stock from $80.00 to $84.00. Barclays currently has an equal weight rating on the stock. NIKE traded as high as $83.12 and last traded at $82.26. 1,785,995 shares traded hands during trading, a decline of 84% from the average session volume of 11,209,227 shares. The stock had previously closed at $80.90.

NKE has been the subject of several other reports. Wells Fargo & Company dropped their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Robert W. Baird cut their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. BMO Capital Markets reduced their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Citigroup reduced their target price on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the 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 transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Annapolis Financial Services LLC boosted its position in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC grew its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $33,000. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE during the fourth quarter valued at approximately $36,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.1 %

The company’s 50 day simple moving average is $77.84 and its two-hundred day simple moving average is $87.23. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $122.21 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. 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 analysts’ expectations of $12.86 billion. During the same quarter last year, the firm earned $0.66 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.83%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

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.