Stocks Analysis by MarketBeat.com (Thomas Hughes) covering: Nike Inc, Nike Inc, Nike Inc DRC, Nike Inc BDR. Read MarketBeat.com (Thomas Hughes)'s latest article on Investing.com
) shares are sprinting higher after its FQ1 release. The takeaway from the report is that this leading shoe and apparel manufacturer’s business is normalizing in the wake of the COVID bubble, and the stage is set for continued, long-term growth. The question for investors today is if this stock is a good buy for long-term holders, and, by all accounts, it is.
Nike Direct sales, the DTC channel, are up 6%, with a 2% increase in digital while wholesale is flat. All segments contributed positively to results regionally, although China was less strong than expected. On a brand basis, strength in the core Nike brand was offset by some weakness in Converse. The bottom line, Nike had a solid quarter, with higher-margin DTC channels leading the way.
As it is, the 1.5% dividend was compounded by share repurchases in Q1, which gives an effect annualized yield near 4.5%. Those repurchases have the share count down 2.7% YOY, and robust repurchases are expected in the coming quarters and years.The price action in Nike didn’t look great going into the report due to concerns about weakness and margin strength. The post-release action is up 10%, confirming support at a critical level and indicating a bottom.
Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Teradyne, XPO Logistics, Tractor Supply, and Brinker International, and a...
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