Nike, Inc. (NYSE:NKE) shares traded 0.45% higher at $93.78 on Wall Street last session.
NKE stock price is now -2.03% away from the 50-day moving average and -8.33% away from the 200-day moving average. The market capitalization of the company currently stands at $141.56B.
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With the price target enhanced from $110 to $113, BofA Securities Upgraded its rating from Neutral to Buy for Nike, Inc. (NYSE: NKE). On March 22, 2024, Telsey Advisory Group reiterated its ‘Outperform’ rating on the stock by increasing its target price from $120 to quote $115, while ‘RBC Capital Mkts’ rates the stock as ‘Sector Perform’
In other news, PARKER MARK G, EXECUTIVE CHAIRMAN sold 168,378 shares of the company’s stock on Feb 14 ’24. The stock was sold for $17,679,690 at an average price of $105.00. Upon completion of the transaction, the EXECUTIVE CHAIRMAN now directly owns 1,178,845 shares in the company, valued at $110.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 11 ’23, EVP: CHRO Matheson Monique S. sold 10,000 shares of the business’s stock. A total of $1,190,000 was realized by selling the stock at an average price of $119.00. This leaves the insider owning 44,736 shares of the company worth $4.2 million. A total of 22.45% of the company’s stock is owned by insiders.
During the past 12 months, Nike, Inc. has had a low of $88.66 and a high of $127.69. As of last week, the company has a debt-to-equity ratio of 0.85, a current ratio of 2.74, and a quick ratio of 1.89.
According to the Footwear & Accessories Company, earnings per share came in at 0.66, missing analysts’ expectations of 0.67 by -0.01. This compares to $0.79 EPS in the same period last year. The net profit margin was 10.14% and return on equity was 36.38% for NKE. The company reported revenue of $12.43 billion for the quarter, compared to $12.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.31 percent. For the current quarter, analysts expect NKE to generate $12.88B in revenue.
Nike, Inc.(NKE) 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. It also sells a line of performance equipment and accessories comprising bags, sport balls, socks, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities under the NIKE brand; and various plastic products to other manufacturers. In addition, the company markets apparel with licensed college and professional team, and league logos, as well as sells sports apparel; and licenses unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. It sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.
