NIKE, Inc. (NYSE:NKE - Get Free Report)'s stock price shot up 0.6% on Monday . The company traded as high as $74.99 and last traded at $74.75. 1,571,960 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,353,132 shares. The stock had previously closed at $74.34.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NKE. Truist Financial dropped their price target 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. Barclays downgraded shares of NIKE from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. Wells Fargo & Company lowered their price target on NIKE from $115.00 to $92.00 and set an "overweight" rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group dropped their price target on NIKE from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, June 28th. Finally, Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an "outperform" rating for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $96.30.
Read Our Latest Stock Report on NKE
NIKE Price Performance
The firm has a 50-day moving average of $81.34 and a 200-day moving average of $91.40. The stock has a market cap of $112.66 billion, a PE ratio of 20.01, a PEG ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company's revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Research analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.
NIKE Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.98%. NIKE's payout ratio is 39.68%.
Insider Buying and Selling
In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company's stock, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which is available through this link. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,102,090 shares of the company's stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On NIKE
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in NIKE during the 4th quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD grew its stake in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker's stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Capital International Investors raised 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 buying an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new stake in shares of NIKE during the 1st quarter worth approximately $533,533,000. Finally, Capital World Investors boosted its holdings in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker's stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. 64.25% of the stock is owned by institutional investors.
NIKE Company Profile
(Get 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 trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
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