NIKE (NYSE:NKE) Trading Up 1.5% Following Dividend Announcement

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price was up 1.5% during trading on Friday after the company announced a dividend. The company traded as high as $58.70 and last traded at $57.59. Approximately 4,700,575 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 17,896,148 shares. The stock had previously closed at $56.76.

The newly announced dividend which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Needham & Company LLC cut their price objective on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, March 17th. The Goldman Sachs Group dropped their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Berenberg Bank started coverage on NIKE in a research note on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective on the stock. Citigroup cut their target price on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Telsey Advisory Group lowered their price target on NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research report on Tuesday. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $80.48.

NIKE Trading Up 1.7 %

The firm has a market cap of $85.82 billion, a P/E ratio of 17.86, a PEG ratio of 2.52 and a beta of 1.23. 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 business has a 50 day moving average of $63.70 and a two-hundred day moving average of $71.72.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on 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 directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Heck Capital Advisors LLC bought a new stake in NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC boosted its holdings in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of NIKE during the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new position in shares of NIKE during the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares during the period. 64.25% of the stock is owned by institutional investors.

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.