NIKE, Inc. (NYSE:NKE – Get Free Report) traded up 0.2% on Tuesday . The company traded as high as $92.18 and last traded at $91.99. 1,773,555 shares traded hands during trading, a decline of 81% from the average session volume of 9,207,739 shares. The stock had previously closed at $91.77.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Williams Trading reaffirmed a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. HSBC decreased their target price on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Piper Sandler decreased their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Finally, Truist Financial reissued a “hold” rating and issued a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.26.
NIKE Trading Up 1.1 %
The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $140.10 billion, a PE ratio of 27.06, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a 50 day simple moving average of $93.82 and a two-hundred day simple moving average of $102.28.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. Analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. NIKE’s payout ratio is 43.53%.
Insider Transactions at NIKE
In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last quarter. 0.50% of the stock is currently owned by insiders.
Hedge Funds Weigh In On NIKE
A number of hedge funds have recently made changes to their positions in NKE. Atria Investments Inc lifted its position in shares of NIKE by 10.5% in the first quarter. Atria Investments Inc now owns 125,774 shares of the footwear maker’s stock valued at $11,840,000 after acquiring an additional 11,999 shares in the last quarter. Swedbank AB purchased a new position in shares of NIKE in the first quarter valued at approximately $93,357,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of NIKE by 0.3% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 146,587 shares of the footwear maker’s stock valued at $13,776,000 after acquiring an additional 370 shares in the last quarter. LRI Investments LLC purchased a new position in shares of NIKE in the first quarter valued at approximately $129,000. Finally, Virtu Financial LLC lifted its position in shares of NIKE by 7.1% in the first quarter. Virtu Financial LLC now owns 60,714 shares of the footwear maker’s stock valued at $5,706,000 after acquiring an additional 4,000 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.