NIKE (NYSE:NKE) Trading Up 0.7% – What’s Next?

NIKE, Inc. (NYSE:NKE)’s stock price was up 0.7% on Monday . The stock traded as high as $63.99 and last traded at $63.75. Approximately 4,805,957 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 12,899,907 shares. The stock had previously closed at $63.29.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. Wells Fargo & Company decreased their target price on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, March 21st. China Renaissance initiated coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Up 2.0 %

The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average price is $73.84 and its two-hundred day moving average price is $76.72. The company has a market capitalization of $95.81 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of NIKE in the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP grew its holdings in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. increased its position in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares during the period. Bank of New York Mellon Corp boosted its position in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the period. Institutional investors and hedge funds 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.