NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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. In addition, it sells a line of performance equipment and accessories comprising bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities under the NIKE brand; and various plastic products to other manufacturers. The company markets apparel with licensed college and professional team, and league logos, as well as sells sports apparel. Additionally, it licenses unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. The company sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. The company was formerly known as Blue Ribbon Sports, Inc. and changed its name to NIKE, Inc. in 1971. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.
Analysts Set New Price Targets
Several analysts have recently issued reports on NKE shares. Jefferies Financial Group set a $155.00 target price on shares of NIKE in a research report on Tuesday, June 28th. Wedbush lowered their price objective on NIKE from $139.00 to $130.00 and set an "outperform" rating for the company in a research note on Tuesday, June 28th. Wells Fargo & Company cut their target price on NIKE from $150.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 28th. HSBC lowered their price target on NIKE from $140.00 to $132.00 and set a "hold" rating for the company in a research report on Tuesday, June 14th. Finally, KeyCorp assumed coverage on shares of NIKE in a research report on Wednesday, July 20th. They set a "sector weight" rating on the stock. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.46.
NIKE Stock Performance
Shares of NKE Stock opened at $110.11 on Wednesday. NIKE has a 12-month low of $99.53 and a 12-month high of $179.10. The business's fifty day simple moving average is $110.13 and its 200-day simple moving average is $122.88. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58. The company has a market cap of $172.71 billion, a PE ratio of 29.28, a PEG ratio of 2.39 and a beta of 1.02.
NIKE (NYSE:NKE - Get Rating) last issued its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Analysts expect that NIKE will post 3.82 earnings per share for the current fiscal year.
NIKE Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE's payout ratio is 32.45%.
Insider Buying and Selling
In other news, Director John W. Rogers, Jr. acquired 10,000 shares of the business's stock in a transaction dated Thursday, June 30th. The shares were acquired at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the acquisition, the director now owns 25,681 shares of the company's stock, valued at $2,644,115.76. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NIKE news, Director John W. Rogers, Jr. purchased 10,000 shares of the stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the acquisition, the director now owns 25,681 shares in the company, valued at $2,644,115.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew Campion sold 5,922 shares of NIKE stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $671,673.24. Following the transaction, the chief operating officer now owns 75,295 shares of the company's stock, valued at approximately $8,539,958.90. The disclosure for this sale can be found here. Insiders sold 82,796 shares of company stock worth $9,085,334 in the last 90 days. Insiders own 0.40% of the company's stock.
