NIKE (NYSE:NKE) Shares Down 1.1% Following Analyst Downgrade

Shares of NIKE, Inc. (NYSE:NKE) were down 1.1% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $115.00 to $92.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. NIKE traded as low as $75.02 and last traded at $75.24. Approximately 15,952,008 shares traded hands during trading, a decline of 11% from the average daily volume of 17,969,314 shares. The stock had previously closed at $76.04.

Other analysts have also issued reports about the stock. Jefferies Financial Group cut their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Telsey Advisory Group reduced their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Stifel Nicolaus restated a “hold” rating and issued a $88.00 price target (down previously from $117.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Bank of America reduced their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Hold” and an average price target of $97.19.

Insider Activity at NIKE

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

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC grew 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 buying an additional 220 shares during the period. Iron Horse Wealth Management LLC grew 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 buying an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC grew 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 buying an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

The firm’s 50-day moving average price is $92.19 and its 200 day moving average price is $98.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market cap of $113.56 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.85 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.32 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

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.