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 0.4 %
Shares of NYSE:NKE traded down $0.43 during trading hours on Monday, reaching $115.64. The stock had a trading volume of 16,711 shares, compared to its average volume of 7,121,872. The stock has a market capitalization of $181.39 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 2.45 and a beta of 1.02. The firm's 50 day moving average is $109.73 and its 200-day moving average is $122.08. 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 1 year low of $99.53 and a 1 year high of $179.10.
NIKE (NYSE:NKE - Get Rating) last announced its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The firm had revenue of $12.20 billion for the quarter, compared to analysts' expectations of $12.10 billion. During the same period in the previous year, the company posted $0.93 earnings per share. NIKE's revenue was down .8% compared to the same quarter last year. Research analysts predict that NIKE will post 3.8 earnings per share for the current fiscal year.
NIKE Dividend Announcement
The company 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 $0.305 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a yield of 1.05%. NIKE's dividend payout ratio is currently 32.45%.
Wall Street Analyst Weigh In
NKE has been the subject of a number of recent analyst reports. Barclays lowered their price objective on shares of NIKE from $140.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, June 29th. BMO Capital Markets decreased their price objective on NIKE from $142.00 to $128.00 and set an "outperform" rating for the company in a report on Tuesday, June 28th. Jefferies Financial Group set a $155.00 price objective on NIKE in a report on Tuesday, June 28th. HSBC cut their target price 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. Finally, Credit Suisse Group set a $130.00 target price on shares of NIKE in a research note on Wednesday, June 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average target price of $137.46.
Insider Activity
In related news, EVP Monique S. Matheson sold 30,000 shares of the company's stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $107.19, for a total value of $3,215,700.00. Following the completion of the transaction, the executive vice president now directly owns 60,330 shares in the company, valued at $6,466,772.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Matthew Friend sold 4,139 shares of NIKE stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total value of $469,445.38. Following the sale, the chief financial officer now owns 56,539 shares of the company's stock, valued at approximately $6,412,653.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 30,000 shares of NIKE stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $107.19, for a total value of $3,215,700.00. Following the transaction, the executive vice president now owns 60,330 shares of the company's stock, valued at $6,466,772.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,796 shares of company stock valued at $9,085,334. 0.40% of the stock is owned by company insiders.
