NIKE (NYSE:NKE) Trading Down 0.7%

NIKE, Inc. (NYSE:NKE)’s stock price was down 0.7% during mid-day trading on Wednesday . The stock traded as low as $71.85 and last traded at $71.94. Approximately 5,629,969 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 11,012,913 shares. The stock had previously closed at $72.46.

Analyst Ratings Changes

Several research analysts have recently issued reports on NKE shares. Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group reduced their price target on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Hold” and a consensus target price of $97.19.

NIKE Price Performance

The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market cap of $108.39 billion, a PE ratio of 19.29, a P/E/G ratio of 1.87 and a beta of 1.01. The stock has a 50-day simple moving average of $90.63 and a 200 day simple moving average of $96.64.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts expect that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.06%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 in the last three months. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Iron Horse Wealth Management LLC boosted its position in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE during the 4th quarter worth about $29,000. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Core Wealth Advisors Inc. boosted its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE 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.