NIKE (NYSE:NKE) Shares Up 3.3% - Here's What Happened

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price traded up 3.3% on Tuesday . The stock traded as high as $64.06 and last traded at $63.98. 4,934,901 shares traded hands during trading, a decline of 67% from the average session volume of 15,056,149 shares. The stock had previously closed at $61.91.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NKE. Needham & Company LLC cut their target price on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Williams Trading cut their price target on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Finally, Bank of America decreased their price objective on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $80.26.

NIKE Stock Down 3.8%

The business's 50-day moving average is $59.23 and its two-hundred day moving average is $68.85. The firm has a market capitalization of $89.40 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. 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, topping 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 period in the previous year, the company posted $0.98 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.65%. NIKE's dividend payout ratio is currently 53.16%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth about $25,000. Heck Capital Advisors LLC bought a new stake in NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA grew its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. 64.25% of the stock is currently owned by institutional investors.

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.