NIKE (NYSE:NKE) Shares Up 0.9%

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price rose 0.9% on Thursday . The company traded as high as $92.84 and last traded at $92.50. Approximately 2,704,957 shares were traded during trading, a decline of 70% from the average daily volume of 9,144,518 shares. The stock had previously closed at $91.67.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research reports. Sanford C. Bernstein decreased their price objective on shares of NIKE from $134.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, March 22nd. UBS Group decreased their price objective on shares of NIKE from $138.00 to $125.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Truist Financial reaffirmed a "hold" rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Piper Sandler cut 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, Williams Trading reiterated a "sell" rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $116.26.

NIKE Stock Performance

The stock has a 50 day moving average price of $94.27 and a two-hundred day moving average price of $102.51. The company has a market capitalization of $138.51 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE's dividend payout ratio is 43.53%.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction 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. Insiders have sold 213,660 shares of company stock valued at $19,946,333 in the last 90 days. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently bought and sold shares of NKE. Vanguard Group Inc. raised its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker's stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors raised its holdings in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker's stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. FMR LLC boosted its holdings in NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker's stock worth $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker's stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Finally, Northern Trust Corp increased its stake in shares of NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker's stock worth $1,487,625,000 after purchasing an additional 674,198 shares in the last quarter. 64.25% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.