Key Points
- CEO Elliott Hill bought 16,388 shares (~$1.00M) at $61.10, increasing his stake 7.28% to 241,587 shares, according to an SEC Form 4 filing.
- Q2 results beat estimates with EPS $0.53 (vs. $0.37 expected) and revenue $12.43B (+0.6% YoY), but EPS declined year-over-year and operating cash flow weakened, signaling near-term earnings risk.
- Dividend raised to $0.41 quarterly (2.7% yield) and analysts are mixed—MarketBeat shows a "Moderate Buy" consensus with an average target of $75.84, implying upside if execution improves.
NIKE, Inc. (NYSE:NKE - Get Free Report) CEO Elliott Hill bought 16,388 shares of NIKE stock in a transaction on Monday, December 29th. The stock was acquired at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the transaction, the chief executive officer directly owned 241,587 shares of the company's stock, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
NIKE Stock Performance
NYSE NKE opened at $61.16 on Wednesday. The stock has a fifty day simple moving average of $63.93 and a 200-day simple moving average of $69.35. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a market cap of $90.41 billion, a PE ratio of 35.98, a P/E/G ratio of 2.62 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion for the quarter, compared to analysts' expectations of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.41 dividend. This is a boost from NIKE's previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. This represents a $1.64 annualized dividend and a yield of 2.7%. NIKE's payout ratio is 96.47%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on NKE shares. Raymond James Financial reaffirmed a "market perform" rating on shares of NIKE in a research note on Monday, December 15th. BNP Paribas Exane lowered their target price on NIKE from $38.00 to $35.00 and set an "underperform" rating for the company in a report on Friday, December 19th. Argus dropped their target price on NIKE from $85.00 to $70.00 in a research report on Tuesday, December 23rd. Truist Financial set a $70.00 price target on shares of NIKE and gave the stock a "buy" rating in a research note on Friday, December 19th. Finally, Robert W. Baird lowered their price objective on shares of NIKE from $93.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $75.84.
Check Out Our Latest Research Report on NKE
Hedge Funds Weigh In On NIKE
Institutional investors and hedge funds have recently made changes to their positions in the stock. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock valued at $1,007,000 after acquiring an additional 134 shares in the last quarter. Main Street Financial Solutions LLC grew its holdings in NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock worth $244,000 after acquiring an additional 139 shares in the last quarter. St. Clair Advisors LLC increased its position in shares of NIKE by 0.9% in the 3rd quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker's stock valued at $1,061,000 after purchasing an additional 140 shares during the last quarter. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in shares of NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock valued at $120,000 after purchasing an additional 145 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
Key NIKE News
Here are the key news stories impacting NIKE this week:
About NIKE
(
Get Free Report)
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
Further Reading
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