NIKE (NYSE:NKE) Trading Up 1% - Still a Buy?

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) traded up 1% during mid-day trading on Thursday . The stock traded as high as $58.27 and last traded at $57.96. 3,528,887 shares were traded during trading, a decline of 81% from the average session volume of 18,161,531 shares. The stock had previously closed at $57.39.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. Wells Fargo & Company reduced their target price on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday. Robert W. Baird decreased their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Truist Financial lowered their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and increased their price target for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Sixteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.19.

NIKE Trading Up 0.9 %

The business's fifty day moving average price is $67.44 and its 200 day moving average price is $73.33. 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 firm has a market capitalization of $85.61 billion, a PE ratio of 17.86, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $11.02 billion. During the same period in the previous year, the firm posted $0.98 EPS. NIKE's revenue was down 9.1% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Monday, March 3rd. NIKE's payout ratio is 53.16%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the 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 transaction, the chairman now owns 896,632 shares of the company's stock, valued at $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 is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were bought at an average cost 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 approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NIKE by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,000 shares of the footwear maker's stock valued at $13,608,000 after acquiring an additional 11,968 shares during the period. Lafayette Investments Inc. raised its position in NIKE by 3.1% in the first quarter. Lafayette Investments Inc. now owns 45,393 shares of the footwear maker's stock valued at $2,882,000 after purchasing an additional 1,369 shares during the period. Money Concepts Capital Corp lifted its stake in shares of NIKE by 65.2% during the first quarter. Money Concepts Capital Corp now owns 25,345 shares of the footwear maker's stock worth $1,609,000 after purchasing an additional 10,005 shares in the last quarter. Canvas Wealth Advisors LLC boosted its position in shares of NIKE by 121.7% in the first quarter. Canvas Wealth Advisors LLC now owns 49,168 shares of the footwear maker's stock worth $3,121,000 after buying an additional 26,986 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of NIKE by 3.5% in the first quarter. Illinois Municipal Retirement Fund now owns 154,829 shares of the footwear maker's stock valued at $9,829,000 after buying an additional 5,185 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.

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