NIKE (NYSE:NKE) Stock Price Up 0.9%

NIKE, Inc. (NYSE:NKE) rose 0.9% on Tuesday . The company traded as high as $80.65 and last traded at $80.53. Approximately 1,544,997 shares changed hands during trading, a decline of 86% from the average daily volume of 11,248,108 shares. The stock had previously closed at $79.80.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Williams Trading raised 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 report on Friday, August 16th. Royal Bank of Canada cut their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Stock Up 1.0 %

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 has a fifty day simple moving average of $77.36 and a 200-day simple moving average of $87.47. The firm has a market cap of $121.65 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $12.86 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s 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 sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in NKE. Vanguard Group Inc. boosted its holdings in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Capital International Investors boosted its stake in shares of NIKE by 34.9% in 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 purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Legal & General Group Plc raised its stake in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after buying an additional 211,360 shares during the period. Institutional investors own 64.25% of the company’s stock.

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.