NIKE, Inc. (NYSE:NKE – Get Free Report)’s share price gapped down before the market opened on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $132.00 to $128.00. The stock had previously closed at $122.53, but opened at $108.26. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. NIKE shares last traded at $110.38, with a volume of 10,226,162 shares changing hands.
Several other research analysts have also recently weighed in on NKE. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Tuesday, December 12th. Erste Group Bank reissued a “hold” rating on shares of NIKE in a research note on Friday, September 8th. StockNews.com began coverage on NIKE in a research note on Thursday, October 5th. They issued a “hold” rating for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $139.00 price target on shares of NIKE in a report on Tuesday, December 5th. Finally, BMO Capital Markets dropped their price objective on shares of NIKE from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, September 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $124.42.
Insider Activity
In other news, Director Robert Holmes Swan purchased 13,072 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were acquired at an average cost of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the purchase, the director now directly owns 18,005 shares in the company, valued at approximately $1,730,820.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other NIKE news, Director Robert Holmes Swan purchased 13,072 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were purchased at an average cost of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the purchase, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $119.00, for a total value of $1,190,000.00. Following the transaction, the executive vice president now directly owns 44,736 shares in the company, valued at approximately $5,323,584. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.
Institutional Trading of NIKE
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC grew its holdings in shares of NIKE by 1.2% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 105,276 shares of the footwear maker’s stock worth $12,911,000 after acquiring an additional 1,227 shares during the period. Meridian Wealth Management LLC increased its position in shares of NIKE by 67.2% in the second quarter. Meridian Wealth Management LLC now owns 5,079 shares of the footwear maker’s stock valued at $561,000 after buying an additional 2,041 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of NIKE by 27.9% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 24,343 shares of the footwear maker’s stock worth $2,687,000 after buying an additional 5,308 shares during the last quarter. Exchange Capital Management Inc. boosted its position in shares of NIKE by 12.5% in the 2nd quarter. Exchange Capital Management Inc. now owns 16,384 shares of the footwear maker’s stock worth $1,808,000 after buying an additional 1,819 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its stake in NIKE by 60.0% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 10,274 shares of the footwear maker’s stock valued at $1,260,000 after acquiring an additional 3,852 shares during the last quarter. Institutional investors and hedge funds own 63.42% of the company’s stock.
NIKE Price Performance
The company’s fifty day simple moving average is $108.86 and its two-hundred day simple moving average is $105.63. The stock has a market capitalization of $166.79 billion, a PE ratio of 33.91, a P/E/G ratio of 1.95 and a beta of 1.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.84 and a current ratio of 2.87.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.19. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The business had revenue of $13.40 billion for the quarter, compared to the consensus estimate of $13.39 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 3.75 EPS for the current year.
NIKE Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be paid a $0.37 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, December 1st. NIKE’s payout ratio is presently 45.68%.
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.