NIKE (NYSE:NKE) Shares Up 0.3%

Shares of NIKE, Inc. (NYSE:NKE) shot up 0.3% during trading on Monday . The stock traded as high as $83.94 and last traded at $83.49. 2,177,552 shares changed hands during trading, a decline of 81% from the average session volume of 11,501,943 shares. The stock had previously closed at $83.23.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Jefferies Financial Group decreased their price target on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Guggenheim decreased their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the stock from $67.00 to $93.00 in a research note on Friday. Finally, BMO Capital Markets decreased their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.59.

NIKE Price Performance

The company has a fifty day moving average of $80.17 and a 200 day moving average of $90.77. The firm has a market capitalization of $125.64 billion, a P/E ratio of 22.28, a PEG ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in NIKE in the 4th quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD grew its holdings in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Capital International Investors grew its holdings in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in NIKE during the 1st quarter valued at about $533,533,000. Finally, Capital World Investors grew its holdings in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

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.