NIKE (NYSE:NKE) Trading Up 1.6% on Insider Buying Activity

NIKE, Inc. (NYSE:NKE - Get Free Report)'s stock price shot up 1.6% during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $58.77 and last traded at $56.49. 8,772,703 shares traded hands during trading, a decline of 35% from the average session volume of 13,558,422 shares. The stock had previously closed at $55.61.

Specifically, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NKE. UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, December 16th. Robert W. Baird cut their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Finally, Jefferies Financial Group upgraded shares of NIKE from a "hold" rating to a "buy" rating and boosted their price objective for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.19.

NIKE Stock Up 0.1 %

The company's fifty day simple moving average is $70.03 and its 200-day simple moving average is $74.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $80.52 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same period last year, the business posted $0.98 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. On average, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio is presently 53.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Persium Advisors LLC lifted its position in NIKE by 32.7% during the 1st quarter. Persium Advisors LLC now owns 6,889 shares of the footwear maker's stock worth $437,000 after acquiring an additional 1,698 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of NIKE by 1.4% during the first quarter. Gateway Investment Advisers LLC now owns 17,738 shares of the footwear maker's stock worth $1,126,000 after purchasing an additional 246 shares during the period. City State Bank raised its position in NIKE by 26.2% during the 1st quarter. City State Bank now owns 4,822 shares of the footwear maker's stock worth $306,000 after buying an additional 1,000 shares during the last quarter. Chemistry Wealth Management LLC lifted its stake in NIKE by 2.7% during the 1st quarter. Chemistry Wealth Management LLC now owns 40,756 shares of the footwear maker's stock valued at $2,587,000 after acquiring an additional 1,064 shares during the period. Finally, Pines Wealth Management LLC boosted its holdings in shares of NIKE by 60.2% in the 1st quarter. Pines Wealth Management LLC now owns 5,330 shares of the footwear maker's stock valued at $338,000 after acquiring an additional 2,003 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services 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.