NIKE (NYSE:NKE) Shares Up 0.7% - Here's What Happened

NIKE, Inc. (NYSE:NKE - Get Free Report) shares rose 0.7% during mid-day trading on Monday . The stock traded as high as $63.99 and last traded at $63.75. Approximately 4,805,957 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 12,899,907 shares. The stock had previously closed at $63.29.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Cfra Research upgraded NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Finally, Needham & Company LLC lowered their price objective on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average target price of $87.38.

NIKE Trading Up 0.4 %

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's fifty day moving average price is $73.66 and its two-hundred day moving average price is $76.64. The firm has a market cap of $96.20 billion, a PE ratio of 20.07, a P/E/G ratio of 2.52 and a beta of 1.02.

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NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the business posted $0.98 EPS. The company's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marcum Wealth LLC boosted its position in shares of NIKE by 9.1% in the 1st quarter. Marcum Wealth LLC now owns 12,065 shares of the footwear maker's stock worth $766,000 after buying an additional 1,003 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in shares of NIKE by 0.3% in the first quarter. Confluence Investment Management LLC now owns 246,930 shares of the footwear maker's stock valued at $15,675,000 after purchasing an additional 850 shares in the last quarter. Cacti Asset Management LLC lifted its holdings in shares of NIKE by 123.0% in the first quarter. Cacti Asset Management LLC now owns 298,309 shares of the footwear maker's stock valued at $18,880,000 after purchasing an additional 164,524 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of NIKE by 13.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,319 shares of the footwear maker's stock valued at $465,000 after purchasing an additional 849 shares during the last quarter. Finally, Prostatis Group LLC increased its stake in shares of NIKE by 29.9% during the 4th quarter. Prostatis Group LLC now owns 13,705 shares of the footwear maker's stock worth $1,037,000 after purchasing an additional 3,153 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.