NIKE (NYSE:NKE) Trading Up 2.5% - What's Next?

NIKE, Inc. (NYSE:NKE - Get Free Report) shares shot up 2.5% on Tuesday . The stock traded as high as $57.28 and last traded at $57.51. 3,854,639 shares were traded during mid-day trading, a decline of 73% from the average session volume of 14,183,431 shares. The stock had previously closed at $56.12.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. Citigroup downgraded NIKE from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating on the stock. Truist Financial dropped their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $73.00 to $64.00 and set a "neutral" rating for the company in a report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.81.

NIKE Stock Down 2.0 %

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 company has a market cap of $84.74 billion, a PE ratio of 17.68, a P/E/G ratio of 2.52 and a beta of 1.15. The firm has a 50-day simple moving average of $67.15 and a two-hundred day simple moving average of $73.17.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.79%. NIKE's payout ratio is 53.16%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the company. JNBA Financial Advisors increased its stake in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after purchasing an additional 131 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management increased its position in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the period. GAMMA Investing LLC raised its stake in NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after acquiring an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC boosted its position in NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock worth $114,000 after acquiring an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors.

About NIKE

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.