NIKE (NYSE:NKE) Stock Price Up 1.1%

Shares of NIKE, Inc. (NYSE:NKE) traded up 1.1% on Friday . The stock traded as high as $72.71 and last traded at $72.20. 2,121,209 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 11,420,154 shares. The stock had previously closed at $71.41.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 target price (down from $117.00) on shares of NIKE in a research note 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 report on Friday, June 28th. Telsey Advisory Group cut their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Truist Financial lowered their price target on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Bank of America cut their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.30.

NIKE Price Performance

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 stock has a market cap of $109.50 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.85 and a beta of 1.01. The firm has a 50 day moving average price of $85.90 and a 200 day moving average price of $93.96.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction 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 directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders sold a total of 323,660 shares of company stock worth $27,973,033 over the last three months. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the company. AustralianSuper Pty Ltd boosted its stake in NIKE by 11.4% during the 2nd quarter. AustralianSuper Pty Ltd now owns 2,218,919 shares of the footwear maker’s stock worth $167,240,000 after purchasing an additional 227,061 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of NIKE by 3.5% in the 2nd quarter. Atomi Financial Group Inc. now owns 10,743 shares of the footwear maker’s stock valued at $810,000 after acquiring an additional 363 shares during the period. Wealth Advisory Solutions LLC lifted its stake in NIKE by 49.4% during the second quarter. Wealth Advisory Solutions LLC now owns 115,540 shares of the footwear maker’s stock worth $8,708,000 after purchasing an additional 38,200 shares in the last quarter. Crew Capital Management Ltd. lifted its stake in NIKE by 11.0% during the 2nd quarter. Crew Capital Management Ltd. now owns 8,245 shares of the footwear maker’s stock worth $621,000 after acquiring an additional 819 shares in the last quarter. Finally, AlphaStar Capital Management LLC lifted its position in shares of NIKE by 20.4% during the second quarter. AlphaStar Capital Management LLC now owns 8,723 shares of the footwear maker’s stock worth $657,000 after purchasing an additional 1,477 shares in the last quarter. 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.