Shares of NIKE (NYSE:NKE) rose 2%

NIKE, Inc. stock price (NYSE:NKE – Get Free Report ) rose 2% during trading on Tuesday. The stock traded as high as $88.13 and last traded at $87.96. About 4,562,678 shares were traded during trading, down 60% from the average daily volume of 11,502,528 shares. Shares previously closed at $86.20.

The Wall Street analyst weighs in

Several analysts have weighed in on the company. Barclays raised their target price on NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Finally, BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Moderate Buy” and an average price target of $96.04, based on data from MarketBeat.

Read the latest stock analysis on NIKE

NIKE Stock Up 1.4%

The company has a quick ratio of 1.69, a current ratio of 2.40, and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $78.40 and a 200 day simple moving average of $86.90. The firm has a market cap of $131.89 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE – Get Your Free Report ) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) 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 company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the firm posted EPS of $0.66. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend of $1.48 on an annualized basis and a yield of 1.69%. NIKE’s payout ratio is currently 39.68%.

Indoor activity

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 owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. Disclosure for this purchase can be found here. Company insiders hold 0.50% of the company’s shares.

Institutional inputs and outputs

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Centaurus Financial Inc. boosted its stake in NIKE by 180.8% in the second quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock valued at $338,000 after purchasing an additional 2,891 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of NIKE by 625.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after buying an additional 66,299 shares during the last quarter. American Trust grew its position in shares of NIKE by 4.5% during the 2nd quarter. American Trust now owns 46,076 shares of the footwear maker’s stock valued at $3,473,000 after buying an additional 1,969 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of NIKE by 27.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock valued at $93,000 after purchasing an additional 264 shares in the last quarter. Finally, SS&H Financial Advisors Inc. raised its position in NIKE by 1.3% in the second quarter. SS&H Financial Advisors Inc. now owns 18,961 shares of the footwear maker’s stock worth $1,429,000 after acquiring an additional 235 shares during the last quarter. 64.25% of shares are currently owned by institutional investors.

NIKE Company Profile

(Get a free report)

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 brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

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