NIKE (NYSE:NKE) Trading Up 1.3% - Still a Buy?

NIKE, Inc. (NYSE:NKE - Get Free Report) traded up 1.3% during trading on Wednesday . The company traded as high as $59.20 and last traded at $57.82. Approximately 8,311,467 shares were traded during mid-day trading, a decline of 42% from the average session volume of 14,232,760 shares. The stock had previously closed at $57.06.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NKE shares. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and boosted their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. UBS Group reduced their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, March 21st. The Goldman Sachs Group dropped their price target on NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Williams Trading reduced their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Piper Sandler lowered their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.81.

NIKE Trading Down 1.4 %

The firm has a market cap of $85.29 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.52 and a beta of 1.15. The business has a fifty day moving average of $66.75 and a two-hundred day moving average of $72.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. NIKE's payout ratio is currently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JNBA Financial Advisors lifted its position in NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after buying an additional 131 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after acquiring an additional 136 shares during the last quarter. Elgethun Capital Management lifted its holdings in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after acquiring an additional 149 shares during the period. GAMMA Investing LLC boosted its position in shares of NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock worth $1,136,000 after acquiring an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC grew its holdings in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

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.