NIKE (NYSE:NKE) Trading Up 2%

NIKE, Inc. (NYSE:NKE)’s share price traded up 2% during trading on Tuesday . The stock traded as high as $88.13 and last traded at $87.96. 4,562,678 shares were traded during mid-day trading, a decline of 60% from the average session volume of 11,502,528 shares. The stock had previously closed at $86.20.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NKE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $92.00 price objective on shares of NIKE in a research report on Friday, September 20th. Evercore ISI boosted their price target on shares of NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Barclays raised their price target on NIKE from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 18th. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Finally, Citigroup dropped their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.52.

NIKE Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company’s 50 day simple moving average is $78.70 and its 200 day simple moving average is $86.82. The company has a market capitalization of $132.88 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kampmann Melissa S. boosted its holdings in NIKE by 0.8% in the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after purchasing an additional 115 shares during the period. Ascent Wealth Partners LLC boosted its holdings in shares of NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after buying an additional 115 shares during the period. Condor Capital Management boosted its holdings in shares of NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares during the period. Bell Investment Advisors Inc grew its position in shares of NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares during the last quarter. Finally, Lodestone Wealth Management LLC raised its stake in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after acquiring an additional 118 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.