Nike (NYSE:NKE) Hits New 52-Week High at $102.21

Nike Inc (NYSE:NKE) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $102.21 and last traded at $102.21, with a volume of 541375 shares trading hands. The stock had previously closed at $101.31.

Several analysts have issued reports on the company. Consumer Edge assumed coverage on Nike in a research note on Friday, December 27th. They issued an “overweight” rating and a $110.00 target price on the stock. Raymond James boosted their target price on Nike from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Daiwa Capital Markets set a $91.00 target price on Nike and gave the company a “hold” rating in a research note on Friday, September 27th. Argus boosted their target price on Nike from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. They noted that the move was a valuation call. Finally, Pivotal Research boosted their target price on Nike from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. Nike has a consensus rating of “Buy” and a consensus price target of $105.87.

The company has a 50-day moving average of $96.76 and a 200 day moving average of $89.71. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $157.35 billion, a PE ratio of 41.04, a PEG ratio of 2.55 and a beta of 0.83.

Nike (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.12. Nike had a return on equity of 50.03% and a net margin of 11.21%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Nike Inc will post 3.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 0.96%. This is a boost from Nike’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, November 29th. Nike’s payout ratio is presently 39.36%.

In related news, CAO Hilary K. Krane sold 32,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $89.30, for a total transaction of $2,902,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $101.54, for a total value of $1,675,410.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 231,000 shares of company stock valued at $21,540,520. 3.80% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of NKE. Main Street Research LLC boosted its holdings in shares of Nike by 3.3% in the 3rd quarter. Main Street Research LLC now owns 3,440 shares of the footwear maker’s stock worth $323,000 after purchasing an additional 109 shares in the last quarter. Asset Dedication LLC lifted its stake in shares of Nike by 0.6% in the 3rd quarter. Asset Dedication LLC now owns 20,144 shares of the footwear maker’s stock valued at $1,898,000 after acquiring an additional 114 shares during the last quarter. SlateStone Wealth LLC lifted its stake in shares of Nike by 0.5% in the 3rd quarter. SlateStone Wealth LLC now owns 22,341 shares of the footwear maker’s stock valued at $2,098,000 after acquiring an additional 115 shares during the last quarter. Strategic Advisors LLC lifted its stake in shares of Nike by 3.3% in the 3rd quarter. Strategic Advisors LLC now owns 3,713 shares of the footwear maker’s stock valued at $349,000 after acquiring an additional 118 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Nike by 0.5% in the 3rd quarter. Ballentine Partners LLC now owns 23,415 shares of the footwear maker’s stock valued at $2,199,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Nike (NYSE:NKE)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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