NIKE (NYSE:NKE) Stock Price Down 1.7% After Analyst Downgrade

Shares of NIKE, Inc. (NYSE:NKE) were down 1.7% on Monday after Jefferies Financial Group lowered their price target on the stock from $90.00 to $80.00. The stock traded as low as $72.06 and last traded at $72.15. Approximately 4,492,524 shares were traded during trading, a decline of 60% from the average daily volume of 11,144,302 shares. The stock had previously closed at $73.42.

NKE has been the topic of a number of other research reports. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note 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. Telsey Advisory Group decreased their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group lowered their price objective on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Robert W. Baird cut their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.44.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Bruce G. Allen Investments LLC purchased a new position in shares of NIKE in the fourth quarter valued at approximately $106,000. Dynamic Advisor Solutions LLC boosted its stake in NIKE by 39.0% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 36,340 shares of the footwear maker’s stock worth $3,710,000 after purchasing an additional 10,202 shares during the last quarter. Gilman Hill Asset Management LLC boosted its stake in NIKE by 14.2% during the 4th quarter. Gilman Hill Asset Management LLC now owns 4,023 shares of the footwear maker’s stock worth $437,000 after purchasing an additional 500 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,003,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of NIKE in the fourth quarter valued at about $37,175,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 2.1 %

The stock has a market capitalization of $109.90 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average is $88.66 and its two-hundred day moving average is $95.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. Equities analysts anticipate that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

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.