NIKE (NYSE:NKE) Reaches New 12-Month Low – Here’s Why

NIKE, Inc. (NYSE:NKE) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $64.95 and last traded at $65.76, with a volume of 18682768 shares trading hands. The stock had previously closed at $66.54.

Wall Street Analyst Weigh In

A number of analysts have commented on NKE shares. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Morgan Stanley lowered their target price on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Stock Performance

The business has a 50 day moving average price of $74.16 and a two-hundred day moving average price of $76.94. The stock has a market cap of $93.65 billion, a P/E ratio of 19.54, a price-to-earnings-growth 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 (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at $28,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Roxbury Financial LLC purchased a new stake in NIKE during the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in NIKE during the fourth quarter worth $30,000. 64.25% of the stock is currently owned by institutional investors.

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.