NIKE (NYSE:NKE) Shares Down 1%

NIKE, Inc. (NYSE:NKE)’s stock price fell 1% on Wednesday . The stock traded as low as $77.43 and last traded at $77.69. 2,542,953 shares traded hands during trading, a decline of 78% from the average session volume of 11,400,867 shares. The stock had previously closed at $78.50.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Wedbush decreased their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 target price (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group lowered their price objective on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, Truist Financial cut their target price on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.30.

NIKE Price Performance

The business’s 50-day simple moving average is $81.01 and its two-hundred day simple moving average is $91.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market cap of $119.30 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.87%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were acquired 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 disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently made changes to their positions in the business. Annapolis Financial Services LLC boosted its stake 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 during the last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in 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 last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth about $33,000. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE in the 4th quarter worth about $36,000. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.