NIKE (NYSE:NKE) Trading Up 6.5% - Still a Buy?

NIKE, Inc. (NYSE:NKE - Get Free Report) was up 6.5% on Monday . The company traded as high as $63.47 and last traded at $62.08. Approximately 13,756,257 shares were traded during trading, a decline of 6% from the average daily volume of 14,708,459 shares. The stock had previously closed at $58.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NKE shares. Berenberg Bank started coverage on NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective on the stock. Jefferies Financial Group raised NIKE from a "hold" rating to a "buy" rating and lifted their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Stifel Nicolaus decreased their price target on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Telsey Advisory Group decreased their price target on NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. Finally, Truist Financial decreased their price target on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $80.48.

NIKE Price Performance

The firm has a 50 day moving average of $62.52 and a 200-day moving average of $71.20. The company has a market cap of $92.64 billion, a P/E ratio of 19.33, a P/E/G 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.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly 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 business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Insider Buying and Selling at NIKE

In other news, 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 owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value 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 position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of NIKE by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 206,023 shares of the footwear maker's stock worth $15,590,000 after acquiring an additional 1,120 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of NIKE by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 16,475 shares of the footwear maker's stock worth $1,247,000 after acquiring an additional 404 shares during the last quarter. Graypoint LLC lifted its stake in shares of NIKE by 25.9% during the 4th quarter. Graypoint LLC now owns 5,346 shares of the footwear maker's stock worth $405,000 after acquiring an additional 1,101 shares during the last quarter. Czech National Bank lifted its stake in shares of NIKE by 5.5% during the 4th quarter. Czech National Bank now owns 258,146 shares of the footwear maker's stock worth $19,534,000 after acquiring an additional 13,396 shares during the last quarter. Finally, Brookstone Capital Management lifted its stake in shares of NIKE by 16.0% during the 4th quarter. Brookstone Capital Management now owns 105,797 shares of the footwear maker's stock worth $8,006,000 after acquiring an additional 14,621 shares during the last quarter. Hedge funds and other 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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