NIKE (NYSE:NKE) Stock Price Down 1%

NIKE, Inc. (NYSE:NKE)’s share price traded down 1% on Wednesday . The company traded as low as $79.67 and last traded at $80.48. 4,921,470 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 11,407,514 shares. The stock had previously closed at $81.32.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. Wedbush lowered their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Wells Fargo & Company lowered their price objective on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group cut their target price on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Stifel Nicolaus decreased their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock’s 50 day simple moving average is $77.36 and its 200 day simple moving average is $89.05. The firm has a market cap of $121.88 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.83%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction 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 of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

Several hedge funds have recently added to or reduced their stakes in NKE. Vanguard Group Inc. raised its holdings in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Capital International Investors raised its stake in shares of 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 buying an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Norges Bank bought a new position in shares of NIKE during the 4th quarter worth $1,315,097,000. Finally, Legal & General Group Plc raised its stake in NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the period. 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.