NIKE (NYSE:NKE) Trading 0.2% Higher

NIKE, Inc. (NYSE:NKE) traded up 0.2% during mid-day trading on Friday . The stock traded as high as $73.95 and last traded at $73.54. 2,993,170 shares were traded during mid-day trading, a decline of 73% from the average session volume of 11,107,591 shares. The stock had previously closed at $73.39.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. TD Cowen decreased their price target on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Finally, Williams Trading reissued a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Hold” and a consensus price target of $96.44.

NIKE Stock Performance

The stock has a market cap of $111.10 billion, a PE ratio of 19.74, a P/E/G ratio of 1.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm’s 50-day moving average is $89.89 and its 200 day moving average is $96.31.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during 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%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.01%. NIKE’s payout ratio is currently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of 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. In the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

A number of large investors have recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC boosted its stake in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $29,000. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Core Wealth Advisors Inc. lifted its holdings in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.