NIKE (NYSE:NKE) Issues Earnings Results

by · The Cerbat Gem

NIKE (NYSE:NKE – Get Free Report) released its quarterly earnings data on Thursday. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16, FiscalAI reports. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.

NIKE Stock Performance

NKE traded up $0.08 on Thursday, hitting $65.77. 25,734,629 shares of the company’s stock were exchanged, compared to its average volume of 15,908,975. NIKE has a twelve month low of $52.28 and a twelve month high of $82.44. The firm has a market cap of $97.22 billion, a PE ratio of 33.73, a P/E/G ratio of 2.37 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $65.23 and a two-hundred day moving average of $69.44.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.41 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s dividend payout ratio (DPR) is presently 84.10%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NKE. Oppenheimer reaffirmed an “outperform” rating on shares of NIKE in a research note on Wednesday. Piper Sandler set a $84.00 price objective on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 price target on shares of NIKE in a research note on Monday, October 13th. UBS Group reissued a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research note on Wednesday, December 10th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $100.00 target price on shares of NIKE in a research report on Friday, December 12th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.24.

Read Our Latest Stock Analysis on NKE

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Main Street Financial Solutions LLC increased its stake in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its holdings in NIKE by 0.8% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 23,293 shares of the footwear maker’s stock valued at $1,624,000 after purchasing an additional 181 shares during the period. NewEdge Advisors LLC grew its holdings in shares of NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after purchasing an additional 197 shares in the last quarter. Regal Investment Advisors LLC raised its position in shares of NIKE by 2.4% in the 3rd quarter. Regal Investment Advisors LLC now owns 8,844 shares of the footwear maker’s stock valued at $617,000 after buying an additional 205 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in shares of NIKE by 8.8% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,130 shares of the footwear maker’s stock worth $216,000 after buying an additional 252 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

(Get Free Report)

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.

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