NIKE (NYSE:NKE) Shares Up 1.2%

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price was up 1.2% during mid-day trading on Monday . The company traded as high as $92.48 and last traded at $92.01. Approximately 2,770,519 shares were traded during trading, a decline of 70% from the average daily volume of 9,095,229 shares. The stock had previously closed at $90.94.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of NIKE from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, March 14th. UBS Group decreased their price target on shares of NIKE from $138.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Telsey Advisory Group cut their price objective on shares of NIKE from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, March 18th. Piper Sandler decreased their target price on NIKE from $107.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 22nd. Finally, Jefferies Financial Group cut their price target on NIKE from $110.00 to $100.00 and set a "hold" rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $116.26.

NIKE Trading Up 2.0 %

The firm has a 50 day moving average of $94.64 and a 200 day moving average of $102.67. The firm has a market cap of $139.95 billion, a PE ratio of 27.17, a P/E/G ratio of 1.75 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts' expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.60%. NIKE's dividend payout ratio is presently 43.53%.

Insider Activity

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Johanna Nielsen sold 282 shares of the firm's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NKE. Seven Eight Capital LP bought a new position in shares of NIKE in the first quarter worth $612,000. Texas Capital Bank Wealth Management Services Inc increased its stake in NIKE by 15.0% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 71,564 shares of the footwear maker's stock worth $6,726,000 after acquiring an additional 9,325 shares during the last quarter. Invesco LLC raised its holdings in shares of NIKE by 1.8% in the 1st quarter. Invesco LLC now owns 11,731 shares of the footwear maker's stock valued at $1,102,000 after acquiring an additional 202 shares in the last quarter. Texas Capital Bancshares Inc TX boosted its position in shares of NIKE by 66.9% during the 1st quarter. Texas Capital Bancshares Inc TX now owns 8,356 shares of the footwear maker's stock valued at $785,000 after acquiring an additional 3,349 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of NIKE by 2.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 95,990 shares of the footwear maker's stock valued at $9,021,000 after acquiring an additional 2,075 shares during the last quarter. 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.

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