NIKE (NYSE:NKE) Trading Up 1.4% - Should You Buy?

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price traded up 1.4% during trading on Tuesday . The stock traded as high as $64.35 and last traded at $64.39. 3,752,463 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 12,913,353 shares. The stock had previously closed at $63.48.

Analysts Set New Price Targets

Several research firms recently weighed in on NKE. Morgan Stanley dropped their price target on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Citigroup cut shares of NIKE from a "buy" rating to a "neutral" rating and reduced their target price for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Evercore ISI lowered their price target on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Stifel Nicolaus dropped their price objective on shares of NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. Finally, BMO Capital Markets decreased their target price 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. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.38.

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NIKE Trading Down 0.1 %

The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $95.74 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.52 and a beta of 1.02. The firm has a 50 day moving average price of $73.84 and a two-hundred day moving average price of $76.72.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. NIKE's payout ratio is 53.16%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new position in NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares during the period. Roxbury Financial LLC bought a new position in shares of NIKE in the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE during the 4th quarter valued at $30,000. 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.