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.
NIKE Stock Down 0.5 %
Shares of NIKE stock traded down $0.61 during trading on Friday, reaching $113.87. The stock had a trading volume of 4,162,241 shares, compared to its average volume of 6,289,746. The company has a market capitalization of $178.61 billion, a price-to-earnings ratio of 30.28, a P/E/G ratio of 2.39 and a beta of 1.02. The stock has a fifty day moving average price of $110.34 and a two-hundred day moving average price of $123.31. NIKE has a 52 week low of $99.53 and a 52 week high of $179.10. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58.
NIKE (NYSE:NKE - Get Rating) last issued its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. The company 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 quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. Sell-side analysts predict that NIKE will post 3.82 EPS for the current fiscal year.
NIKE Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.305 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.07%. NIKE's dividend payout ratio (DPR) is 32.45%.
Analyst Upgrades and Downgrades
NKE has been the subject of several research analyst reports. Robert W. Baird cut their price objective on NIKE from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, June 28th. HSBC lowered their target price on NIKE from $140.00 to $132.00 and set a "hold" rating for the company in a research note on Tuesday, June 14th. Wells Fargo & Company lowered their target price on NIKE from $150.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, June 28th. Piper Sandler initiated coverage on NIKE in a research note on Wednesday. They issued a "neutral" rating and a $115.00 target price for the company. Finally, KeyCorp initiated coverage on NIKE in a research note on Wednesday, July 20th. They issued a "sector weight" rating for the company. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $139.08.
Insider Buying and Selling
In related news, CFO Matthew Friend sold 4,139 shares of the company's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $469,445.38. Following the sale, the chief financial officer now owns 56,539 shares in the company, valued at $6,412,653.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Matthew Friend sold 4,139 shares of the company's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $469,445.38. Following the sale, the chief financial officer now owns 56,539 shares in the company, valued at $6,412,653.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew Campion sold 14,203 shares of the company's stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the sale, the chief operating officer now owns 73,795 shares in the company, valued at approximately $8,900,414.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,796 shares of company stock worth $9,085,334. Corporate insiders own 0.40% of the company's stock.
