NIKE (NYSE:NKE) Issues Quarterly Earnings Results, Beats Estimates By $0.26 EPS

NIKE (NYSE:NKE) announced its earnings results on Thursday. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26, Briefing.com reports. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm 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 firm’s revenue for the quarter was down 9.1% on a year-over-year basis.

NIKE Trading Down 1.9 %

NYSE:NKE traded down $1.38 on Thursday, hitting $71.61. The stock had a trading volume of 20,783,844 shares, compared to its average volume of 13,145,866. The company has a fifty day moving average price of $74.76 and a two-hundred day moving average price of $77.60. The stock has a market cap of $105.92 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 1-year low of $68.62 and a 1-year high of $101.92.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NIKE stock. Brighton Jones LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 388.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 202,411 shares of the footwear maker’s stock after buying 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 reporting period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on NKE. Truist Financial dropped their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.54.

About NIKE

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.