NIKE (NYSE:NKE) Shares Down 0.3% – What’s Next?

NIKE, Inc. (NYSE:NKE)’s share price fell 0.3% during trading on Wednesday . The stock traded as low as $54.41 and last traded at $54.64. 4,766,557 shares were traded during mid-day trading, a decline of 74% from the average session volume of 18,135,016 shares. The stock had previously closed at $54.83.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a report on Monday, March 17th. Berenberg Bank assumed coverage on shares of NIKE in a research report on Tuesday. They set a “hold” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. BMO Capital Markets cut their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Morgan Stanley lowered their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.15.

NIKE Stock Up 4.1 %

The stock has a market cap of $82.44 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business has a 50-day moving average price of $68.71 and a 200-day moving average price of $74.09. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. As a group, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Range Financial Group LLC acquired a new stake in NIKE in the fourth quarter valued at $642,000. Cacti Asset Management LLC purchased a new stake in NIKE during the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE in the fourth quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its stake in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.