NIKE (NYSE:NKE) Shares Up 2.2%

NIKE, Inc. (NYSE:NKE)’s share price shot up 2.2% during mid-day trading on Tuesday . The company traded as high as $73.05 and last traded at $73.00. 2,751,621 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 11,403,376 shares. The stock had previously closed at $71.42.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. TD Cowen lowered their target price on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Telsey Advisory Group lowered their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Bank of America dropped their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.30.

NIKE Stock Up 1.5 %

The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $109.43 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.92 and a beta of 1.01. The stock’s 50 day simple moving average is $83.31 and its 200 day simple moving average is $92.37.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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 in the prior year, the firm posted $0.66 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.04%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 278,660 shares of company stock worth $23,735,833 in the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% in the 1st 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 during the last quarter. True Wealth Design LLC lifted its position in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE in the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in NIKE in the 4th quarter valued at about $36,000. 64.25% of the stock is currently owned by 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.