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 Up 1.3 %
Shares of NKE Stock traded up $1.46 during trading hours on Monday, hitting $115.33. 54,193 shares of the company's stock traded hands, compared to its average volume of 7,156,636. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58. The stock has a market cap of $180.90 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.39 and a beta of 1.02. The stock's fifty day simple moving average is $110.34 and its two-hundred day simple moving average is $123.18. NIKE has a 12-month low of $99.53 and a 12-month 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 (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 business had revenue of $12.20 billion during the quarter, compared to analysts' expectations of $12.10 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm's quarterly revenue was down .8% compared to the same quarter last year. On average, analysts expect that NIKE will post 3.82 EPS for the current year.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a dividend of $0.305 per share. The ex-dividend date is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a yield of 1.06%. NIKE's dividend payout ratio is currently 32.45%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on NKE. HSBC cut their price objective on shares of NIKE from $140.00 to $132.00 and set a "hold" rating for the company in a research note on Tuesday, June 14th. Deutsche Bank Aktiengesellschaft set a $130.00 price objective on NIKE in a report on Tuesday, June 28th. Robert W. Baird dropped their target price on NIKE from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, June 28th. Piper Sandler began coverage on NIKE in a research note on Wednesday, August 3rd. They issued a "neutral" rating and a $115.00 price target on the stock. Finally, Telsey Advisory Group cut their target price on shares of NIKE from $140.00 to $130.00 and set an "outperform" rating on the stock in a report on Tuesday, June 28th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.08.
Insiders Place Their Bets
In other news, Director John W. Rogers, Jr. purchased 10,000 shares of NIKE stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average price of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the transaction, the director now directly owns 25,681 shares of the company's stock, valued at $2,644,115.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Director John W. Rogers, Jr. purchased 10,000 shares of the 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 completion of the acquisition, the director now directly owns 25,681 shares in the company, valued at approximately $2,644,115.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew Campion sold 14,203 shares of the stock in a transaction on Friday, June 3rd. The shares were 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 directly owns 73,795 shares in the company, valued at $8,900,414.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,796 shares of company stock valued at $9,085,334. Insiders own 0.40% of the company's stock.
