Insider Buying: NIKE, Inc. (NYSE:NKE) Director Purchases $226,515.82 in Stock

NIKE, Inc. (NYSE:NKE) Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NIKE Trading Down 1.0 %

Shares of NIKE stock opened at $75.27 on Thursday. The firm has a 50-day moving average of $92.58 and a 200-day moving average of $98.22. The stock has a market cap of $113.61 billion, a PE ratio of 20.18, a PEG ratio of 1.85 and a beta of 1.01. NIKE, Inc. has a 52-week low of $74.29 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping 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 business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.32 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.97%. NIKE’s dividend payout ratio is 39.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NKE. BMO Capital Markets cut their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Barclays downgraded shares of 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 report on Friday, June 28th. Truist Financial lowered their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Guggenheim lowered their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, The Goldman Sachs Group lowered their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $97.19.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Norges Bank bought a new stake in NIKE during the fourth quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of NIKE by 87.5% in 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 acquiring an additional 7,996,434 shares during the last quarter. Capital International Investors lifted its holdings in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD bought a new position in shares of NIKE in the first quarter worth about $533,533,000. Finally, Capital World Investors lifted its holdings in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. 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.