NIKE (NYSE:NKE) Stock Price Up 1.2% - Here's What Happened

Key Points

• Stock movement and analyst outlook: Shares rose 1.2% to $45.22 on Monday with volume down about 25% versus average, while analysts have trimmed price targets and the consensus rating is a Hold with a consensus target of $62.34.
• Earnings and dividend: Nike beat Q1 estimates with EPS of $0.35 (vs. $0.29) and revenue of $11.28B but revenue was essentially flat year-over-year; the company pays a $0.41 quarterly dividend (≈3.6% yield) with a dividend payout ratio around 108.6%.
• Insider buying: Insiders have been buyers recently, including CEO Elliott Hill purchasing ~23,660 shares at $42.27, totaling 64,441 shares bought over the last three months.

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) rose 1.2% during trading on Monday . The company traded as high as $45.41 and last traded at $45.2190. Approximately 14,528,523 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 19,431,184 shares. The stock had previously closed at $44.69.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price target on NIKE from $65.00 to $56.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Wells Fargo & Company lowered their target price on NIKE from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Robert W. Baird lowered their target price on NIKE from $85.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Needham & Company LLC downgraded NIKE from a "buy" rating to a "hold" rating in a research report on Thursday, January 8th. Finally, Jefferies Financial Group reduced their price target on NIKE from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of "Hold" and a consensus target price of $62.34.

NIKE Stock Up 1.2%

The firm has a fifty day simple moving average of $52.99 and a 200-day simple moving average of $60.27. The firm has a market cap of $66.96 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 2.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 1.52 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a $0.41 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. NIKE's dividend payout ratio (DPR) is presently 108.61%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Elliott Hill purchased 23,660 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The stock was bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares of the company's stock, valued at $11,211,990.69. This trade represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 64,441 shares of company stock worth $2,734,204 over the last three months. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $26,000. Sankala Group LLC acquired a new position in shares of NIKE in the fourth quarter worth approximately $26,000. J.Safra Asset Management Corp bought a new stake in NIKE in the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in NIKE in the fourth quarter worth approximately $30,000. Finally, Guerra Advisors Inc bought a new stake in NIKE in the third quarter worth approximately $34,000. Institutional investors own 64.25% of the company's stock.

NIKE Company Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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