NIKE (NYSE:NKE) Shares Climb 1.6% – Here’s What Happened

NIKE, Inc. (NYSE:NKE)’s share price rose 1.6% on Monday. The company traded as high as $38.50 and last traded at $37.9060. 24,401,926 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 24,782,334 shares. The stock had previously closed at $37.30.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NKE shares. Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, October 6th. Piper Sandler set a $28.00 price objective on NIKE and gave the company a “neutral” rating in a report on Friday, October 2nd. Bank of America restated an “underperform” rating and set a $24.00 price objective (down from $30.00) on shares of NIKE in a research report on Friday, October 2nd. Royal Bank Of Canada lowered their target price on NIKE from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, September 29th. Finally, Telsey Advisory Group set a $35.00 target price on NIKE and gave the company a “market perform” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $40.93.

NIKE Stock Up 1.6%

The firm has a market capitalization of $56.30 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 4.37 and a beta of 1.09. The stock has a fifty day moving average of $37.12 and a two-hundred day moving average of $41.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. The firm had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 1.22 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.3%. NIKE’s dividend payout ratio is presently 78.85%.

Insider Buying and Selling

In related news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the transaction, the insider directly owned 57,436 shares of the company’s stock, valued at $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the sale, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,974 shares of company stock valued at $600,126 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in shares of NIKE in the 1st quarter valued at $25,000. Reyes Financial Architecture Inc. bought a new position in NIKE during the third quarter worth $26,000. Meeder Asset Management Inc. raised its stake in NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after buying an additional 285 shares during the last quarter. Atlas Wealth LLC acquired a new position in NIKE in the first quarter valued at $31,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in NIKE in the second quarter valued at $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.

The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.