NIKE (NYSE:NKE) Stock Price Up 0.6% – Here’s What Happened

Shares of NIKE, Inc. (NYSE:NKE) were up 0.6% during trading on Tuesday . The company traded as high as $82.42 and last traded at $81.95. Approximately 1,626,942 shares changed hands during trading, a decline of 86% from the average daily volume of 11,631,183 shares. The stock had previously closed at $81.48.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NKE shares. Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of NIKE in a report on Friday, June 28th. Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Morgan Stanley raised their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, BMO Capital Markets decreased their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Price Performance

The firm has a market cap of $122.83 billion, a PE ratio of 21.97, a PEG ratio of 1.96 and a beta of 1.02. The firm has a fifty day simple moving average of $82.77 and a two-hundred day simple moving average of $85.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Large investors have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC grew its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC lifted its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC grew its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its holdings in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in NIKE during the second quarter worth $44,000. Hedge funds and other 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.