NIKE (NYSE:NKE) Issues Quarterly Earnings Results

NIKE (NYSE:NKE) announced its earnings results on Thursday. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26, Briefing.com reports. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The company’s revenue was down 9.1% on a year-over-year basis.

NIKE Stock Performance

NYSE:NKE opened at $68.02 on Friday. NIKE has a 12-month low of $65.17 and a 12-month high of $98.04. 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 $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The firm has a 50-day moving average price of $74.70 and a 200 day moving average price of $77.46.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

An institutional investor recently raised its position in NIKE stock. Brighton Jones LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 388.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,411 shares of the footwear maker’s stock after purchasing an additional 160,980 shares during the period. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 at the end of the most recent quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company cut their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. UBS Group dropped their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Evercore ISI decreased their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

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.