NIKE (NYSE:NKE) Stock Jumps 1.1% – Time to Buy?

NIKE, Inc. (NYSE:NKE) shares rose 1.1% during mid-day trading on Monday. The company traded as high as $39.57 and last traded at $39.1070. 22,913,892 shares traded hands during trading, a decline of 7% from the average session volume of 24,681,203 shares. The stock had previously closed at $38.67.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research cut shares of NIKE from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 1st. Raymond James Financial reiterated a “market perform” rating on shares of NIKE in a report on Tuesday, September 29th. Bank of America reissued an “underperform” rating and set a $24.00 price target (down from $30.00) on shares of NIKE in a research report on Friday, October 2nd. Jefferies Financial Group set a $60.00 price objective on shares of NIKE in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $33.00 price objective on shares of NIKE in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have assigned a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $40.93.

NIKE Stock Performance

The company has a market capitalization of $58.09 billion, a P/E ratio of 18.80, a P/E/G ratio of 4.52 and a beta of 1.01. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $36.94 and its 200-day moving average price is $46.27.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business had revenue of $11.21 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities analysts expect that NIKE, Inc. will post 1.22 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors 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 dividend on an annualized basis and a yield of 4.2%. NIKE’s dividend payout ratio (DPR) is currently 78.85%.

Insider Activity

In other NIKE news, insider Amy Montagne sold 4,867 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Friend sold 2,463 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the completion of the sale, the chief financial officer owned 82,165 shares of the company’s stock, valued at $3,418,064. The trade was a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 14,974 shares of company stock valued at $600,126. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NKE. OneDigital Investment Advisors LLC lifted its stake in NIKE by 32.8% in the 2nd quarter. OneDigital Investment Advisors LLC now owns 244,296 shares of the footwear maker’s stock valued at $10,028,000 after purchasing an additional 60,375 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in shares of NIKE by 57.7% in the third quarter. Douglas Lane & Associates LLC now owns 1,521,611 shares of the footwear maker’s stock valued at $53,865,000 after acquiring an additional 556,798 shares during the period. B.A. Schrock Wealth Management Inc. acquired a new stake in shares of NIKE in the third quarter valued at approximately $1,153,000. Quantitative Investment Management LLC bought a new position in NIKE during the 2nd quarter worth $2,459,000. Finally, Deutsche Bank AG lifted its position in NIKE by 8.0% during the second quarter. Deutsche Bank AG now owns 3,566,634 shares of the footwear maker’s stock worth $146,410,000 after purchasing an additional 264,576 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.