NIKE (NYSE:NKE) Trading Up 1.1%

NIKE, Inc. (NYSE:NKE) shot up 1.1% during mid-day trading on Tuesday . The company traded as high as $74.14 and last traded at $73.87. 7,072,680 shares changed hands during trading, a decline of 35% from the average session volume of 10,923,007 shares. The stock had previously closed at $73.05.

Analyst Ratings Changes

A number of research firms have recently issued reports on NKE. Wells Fargo & Company dropped their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $109.00 to $80.00 in a research note on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Citigroup lowered their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.19.

NIKE Stock Up 1.2 %

The stock has a market capitalization of $110.76 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The business’s 50-day moving average is $90.27 and its two-hundred day moving average is $96.47. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly 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 analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 2.02%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the business’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 sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. OLD National Bancorp IN lifted its stake in shares of NIKE by 8.1% in the second quarter. OLD National Bancorp IN now owns 27,668 shares of the footwear maker’s stock valued at $2,085,000 after purchasing an additional 2,074 shares during the period. CCM Investment Advisers LLC grew its stake in NIKE by 2.5% during the second quarter. CCM Investment Advisers LLC now owns 125,475 shares of the footwear maker’s stock worth $9,457,000 after buying an additional 3,097 shares during the period. Buffington Mohr McNeal grew its stake in NIKE by 3.9% during the second quarter. Buffington Mohr McNeal now owns 13,373 shares of the footwear maker’s stock worth $1,008,000 after buying an additional 500 shares during the period. Pacifica Partners Inc. grew its stake in NIKE by 1,558.9% during the second quarter. Pacifica Partners Inc. now owns 16,207 shares of the footwear maker’s stock worth $1,220,000 after buying an additional 15,230 shares during the period. Finally, First Financial Corp IN grew its stake in NIKE by 2.6% during the second quarter. First Financial Corp IN now owns 10,187 shares of the footwear maker’s stock worth $768,000 after buying an additional 261 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

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.