NIKE (NYSE:NKE) Stock Price Down 2.6%

NIKE, Inc. (NYSE:NKE)’s share price was down 2.6% during mid-day trading on Monday . The stock traded as low as $71.00 and last traded at $72.10. Approximately 3,589,545 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 11,396,999 shares. The stock had previously closed at $74.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group lowered their price target on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Finally, Guggenheim cut their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $96.30.

NIKE Stock Up 0.2 %

The company has a market cap of $109.61 billion, a P/E ratio of 19.55, a PEG ratio of 1.92 and a beta of 1.01. The stock has a 50-day moving average of $82.92 and a 200 day moving average of $92.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.04%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Insiders sold a total of 278,660 shares of company stock worth $23,735,833 in the last ninety days. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in NIKE in the fourth quarter worth approximately $1,315,097,000. Price T Rowe Associates Inc. MD grew its holdings in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors increased its stake in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD acquired a new position in shares of NIKE during the first quarter valued at about $533,533,000. Finally, Capital World Investors boosted its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Institutional investors and hedge funds 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.