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.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. KGI Securities cut NIKE from an "outperform" rating to a "neutral" rating in a research report on Monday, May 23rd. Wells Fargo & Company cut their price target on shares of NIKE from $150.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, June 28th. Cowen decreased their target price on shares of NIKE from $139.00 to $133.00 and set an "outperform" rating on the stock in a research report on Thursday, June 23rd. Citigroup dropped their price objective on NIKE from $123.00 to $116.00 and set a "neutral" rating for the company in a research note on Tuesday, June 28th. Finally, Robert W. Baird reduced their target price on shares of NIKE from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, June 28th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $137.46.
NIKE Stock Performance
NYSE:NKE traded up $1.97 on Friday, hitting $116.07. 4,407,890 shares of the company's stock were exchanged, compared to its average volume of 6,339,874. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The firm's 50-day moving average price is $109.73 and its two-hundred day moving average price is $122.39. The firm has a market cap of $182.06 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 2.41 and a beta of 1.02. NIKE has a fifty-two week low of $99.53 and a fifty-two week high of $179.10.
NIKE (NYSE:NKE - Get Rating) last announced its quarterly earnings data 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 firm 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%. NIKE's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share. On average, research analysts expect that NIKE will post 3.8 EPS for the current year.
NIKE Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE's dividend payout ratio is currently 32.45%.
Insiders Place Their Bets
In other news, Director John W. Rogers, Jr. purchased 10,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $102.96 per share, for a total transaction of $1,029,600.00. Following the acquisition, the director now directly owns 25,681 shares in the company, valued at approximately $2,644,115.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John W. Rogers, Jr. bought 10,000 shares of the firm's stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the transaction, the director now owns 25,681 shares in the company, valued at $2,644,115.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the company's stock in a transaction on Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the completion of the sale, the chief financial officer now directly owns 51,581 shares in the company, valued at approximately $5,700,732.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,796 shares of company stock worth $9,085,334. 0.40% of the stock is owned by company insiders.
