NIKE (NYSE:NKE) Trading 1.5% Higher – Here’s What Happened

NIKE, Inc. (NYSE:NKE)’s share price traded up 1.5% during trading on Wednesday . The company traded as high as $82.12 and last traded at $81.96. 2,517,925 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 11,735,392 shares. The stock had previously closed at $80.77.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NKE shares. Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Jefferies Financial Group upped their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.04.

NIKE Price Performance

The stock has a market capitalization of $124.94 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The business’s 50 day simple moving average is $81.18 and its 200-day simple moving average is $85.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The company 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. This represents a $1.48 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on 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 in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. XML Financial LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $214,000. Bellevue Group AG purchased a new position in NIKE during the 4th quarter valued at about $369,000. MGO One Seven LLC grew its holdings in NIKE by 4.8% during the 4th quarter. MGO One Seven LLC now owns 18,637 shares of the footwear maker’s stock valued at $2,023,000 after buying an additional 857 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $1,820,000. Finally, Ethic Inc. lifted its position in NIKE by 20.2% in the 4th quarter. Ethic Inc. now owns 110,921 shares of the footwear maker’s stock worth $12,043,000 after buying an additional 18,645 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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.