NIKE (NYSE:NKE) Shares Down 1.2% on Analyst Downgrade

NIKE, Inc. (NYSE:NKE)’s share price fell 1.2% during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $77.00 to $76.00. The Goldman Sachs Group currently has a buy rating on the stock. NIKE traded as low as $61.02 and last traded at $61.8430. 14,292,380 shares were traded during trading, a decline of 11% from the average session volume of 16,110,660 shares. The stock had previously closed at $62.60.

Several other brokerages also recently commented on NKE. Argus reduced their target price on shares of NIKE from $85.00 to $70.00 in a research note on Tuesday, December 23rd. Truist Financial set a $69.00 price target on shares of NIKE in a research report on Wednesday, January 14th. Williams Trading decreased their price objective on shares of NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Telsey Advisory Group cut their target price on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Finally, Stifel Nicolaus set a $65.00 price target on NIKE and gave the stock a “hold” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.61.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy D. Cook purchased 50,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the transaction, the director owned 105,480 shares in the company, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 91,229 shares of company stock valued at $5,452,640 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new position in NIKE during the second quarter worth about $31,000. Guerra Advisors Inc acquired a new position in shares of NIKE during the 3rd quarter worth about $34,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of NIKE in the 3rd quarter valued at about $35,000. Finally, Accredited Wealth Management LLC increased its stake in shares of NIKE by 268.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 376 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.2%

The business’s 50-day moving average is $63.96 and its two-hundred day moving average is $68.67. The firm has a market capitalization of $91.55 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 3.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.41 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio is currently 96.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).