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

NIKE, Inc. (NYSE:NKE - Get Free Report) traded up 1.5% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $58.70 and last traded at $57.59. 4,700,575 shares were traded during trading, a decline of 74% from the average session 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. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. NIKE's payout ratio is currently 53.16%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Citigroup reduced their target price on NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a report on Monday. Telsey Advisory Group reiterated a "market perform" rating and issued a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. 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. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.15.

NIKE Stock Up 1.4 %

The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $85.15 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.52 and a beta of 1.15. The business has a 50-day simple moving average of $65.10 and a two-hundred day simple moving average of $72.32.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Firestone Capital Management acquired a new stake in NIKE in the 1st quarter worth $77,000. SBI Securities Co. Ltd. lifted its stake in shares of NIKE by 12.3% in the first quarter. SBI Securities Co. Ltd. now owns 24,539 shares of the footwear maker's stock valued at $1,558,000 after buying an additional 2,691 shares during the period. Pioneer Trust Bank N A OR lifted its stake in shares of NIKE by 0.6% in the first quarter. Pioneer Trust Bank N A OR now owns 70,968 shares of the footwear maker's stock valued at $4,505,000 after buying an additional 400 shares during the period. Sigma Planning Corp grew its position in NIKE by 9.6% during the first quarter. Sigma Planning Corp now owns 17,297 shares of the footwear maker's stock worth $1,098,000 after buying an additional 1,515 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its stake in NIKE by 5.8% during the first quarter. Catalyst Financial Partners LLC now owns 3,876 shares of the footwear maker's stock valued at $246,000 after acquiring an additional 211 shares during the period. Institutional investors 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.

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