NIKE (NYSE:NKE) Stock Price Up 0.7%

NIKE, Inc. (NYSE:NKE - Get Free Report)'s stock price was up 0.7% during trading on Tuesday . The company traded as high as $94.34 and last traded at $93.41. Approximately 2,082,679 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 9,084,141 shares. The stock had previously closed at $92.72.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of analyst reports. Piper Sandler cut their price target on NIKE from $107.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 22nd. Oppenheimer cut shares of NIKE from an "outperform" rating to a "market perform" rating and set a $110.00 price objective on the stock. in a report on Friday, February 16th. Citigroup lowered their target price on shares of NIKE from $135.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, March 14th. Wells Fargo & Company lowered their price target on NIKE from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, March 22nd. Finally, HSBC dropped their price objective on shares of NIKE from $120.00 to $115.00 and set a "hold" rating on the stock in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $116.26.

NIKE Price Performance

The company has a 50-day moving average of $94.50 and a 200 day moving average of $102.62. The firm has a market cap of $140.05 billion, a P/E ratio of 27.29, a P/E/G ratio of 1.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 net margin of 10.14% and a return on equity of 39.41%. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. NIKE's payout ratio is presently 43.53%.

Insider Activity at NIKE

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

Institutional Trading of NIKE

Several large investors have recently modified their holdings of NKE. Semus Wealth Partners LLC increased its position in shares of NIKE by 11.9% during the third quarter. Semus Wealth Partners LLC now owns 3,049 shares of the footwear maker's stock worth $292,000 after acquiring an additional 324 shares in the last quarter. Malaga Cove Capital LLC boosted its holdings in NIKE by 15.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 4,703 shares of the footwear maker's stock valued at $450,000 after purchasing an additional 613 shares during the period. Community Bank & Trust Waco Texas increased its stake in NIKE by 3.4% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 17,462 shares of the footwear maker's stock worth $1,670,000 after acquiring an additional 570 shares during the last quarter. Abbrea Capital LLC lifted its position in NIKE by 0.5% during the third quarter. Abbrea Capital LLC now owns 35,637 shares of the footwear maker's stock valued at $3,420,000 after purchasing an additional 191 shares during the last quarter. Finally, Tranquility Partners LLC grew its position in NIKE by 12.5% in the third quarter. Tranquility Partners LLC now owns 31,440 shares of the footwear maker's stock worth $3,006,000 after acquiring an additional 3,482 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.