NIKE (NYSE:NKE) Trading Up 2.3%

NIKE, Inc. (NYSE:NKE)’s stock price was up 2.3% during trading on Monday . The stock traded as high as $74.43 and last traded at $74.40. Approximately 6,726,255 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 11,329,795 shares. The stock had previously closed at $72.70.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Cowen lowered their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Wedbush lowered their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. 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 report on Friday, June 28th. Two research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.44.

NIKE Stock Performance

The firm has a market capitalization of $112.99 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.89 and a beta of 1.01. The company’s 50 day moving average is $87.46 and its 200-day moving average is $94.68. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $12.86 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.98%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In other news, 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 value of $4,237,200.00. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now 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 sold a total of 213,660 shares of company stock worth $19,946,333 over the last quarter. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cim LLC bought a new position in NIKE during the fourth quarter worth about $14,275,000. TKG Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $1,012,000. Louisiana State Employees Retirement System bought a new position in shares of NIKE in the fourth quarter valued at approximately $8,034,000. Brown Advisory Inc. boosted its position in shares of NIKE by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after acquiring an additional 192,752 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares during the period. Institutional investors 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.