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.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NKE. Morgan Stanley lowered their target price on shares of NIKE from $159.00 to $149.00 and set an "overweight" rating for the company in a report on Tuesday, June 28th. Wedbush lowered their target price on shares of NIKE from $139.00 to $130.00 and set an "outperform" rating for the company in a report on Tuesday, June 28th. Robert W. Baird decreased their price target on shares of NIKE from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, June 28th. The Goldman Sachs Group decreased their price target on shares of NIKE from $155.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, June 29th. Finally, HSBC decreased their price target on shares of NIKE from $140.00 to $132.00 and set a "hold" rating for the company in a report on Tuesday, June 14th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.46.
NIKE Stock Down 0.9 %
Shares of NKE opened at $117.04 on Thursday. The firm has a market cap of $183.58 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. NIKE has a 52 week low of $99.53 and a 52 week high of $179.10. The firm's 50-day simple moving average is $109.48 and its 200 day simple moving average is $121.81.
NIKE (NYSE:NKE - Get Rating) last issued its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.10 billion. During the same period in the prior year, the firm posted $0.93 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that NIKE will post 3.8 earnings per share for the current year.
NIKE Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, September 2nd. NIKE's dividend payout ratio is currently 32.45%.
Insiders Place Their Bets
In related news, Director John W. Rogers, Jr. purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 30th. The stock was acquired at an average cost of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the purchase, the director now owns 25,681 shares in the company, valued at approximately $2,644,115.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, EVP Monique S. Matheson sold 19,500 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total value of $2,017,275.00. Following the transaction, the executive vice president now directly owns 80,355 shares of the company's stock, valued at approximately $8,312,724.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John W. Rogers, Jr. purchased 10,000 shares of the business's stock in a transaction dated Thursday, June 30th. The shares were purchased at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the acquisition, the director now owns 25,681 shares in the company, valued at approximately $2,644,115.76. The disclosure for this purchase can be found here. Insiders have sold a total of 82,796 shares of company stock worth $9,085,334 in the last quarter. Corporate insiders own 0.40% of the company's stock.
