NIKE (NYSE:NKE) Trading 1.6% Higher Following Insider Buying Activity

NIKE, Inc. (NYSE:NKE) rose 1.6% on Tuesday following insider buying activity. The company traded as high as $58.77 and last traded at $56.49. Approximately 8,772,703 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 13,558,422 shares. The stock had previously closed at $55.61.

Specifically, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Truist Financial reduced their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Wells Fargo & Company cut their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Up 11.5 %

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 fifty day simple moving average of $70.93 and a 200-day simple moving average of $75.39. The company has a market capitalization of $87.86 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released 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. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

Hedge Funds Weigh In On NIKE

A number of large investors have recently bought and sold shares of NKE. Caitlin John LLC lifted its position in shares of NIKE by 117.0% in 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 in the last quarter. Heck Capital Advisors LLC bought a new stake in NIKE during the 4th quarter worth about $28,000. Roxbury Financial LLC bought a new stake in NIKE during the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA grew its holdings in shares of 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 acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of NIKE in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

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.