NIKE (NYSE:NKE) Stock Price Down 0.5%

NIKE, Inc. (NYSE:NKE)’s stock price traded down 0.5% on Thursday . The company traded as low as $80.42 and last traded at $80.58. 1,049,630 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 11,393,233 shares. The stock had previously closed at $81.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKE. Bank of America dropped their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of NIKE in a report 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. Finally, The Goldman Sachs Group reduced their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Stock Performance

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 firm has a market capitalization of $121.79 billion, a PE ratio of 21.60, a P/E/G ratio of 2.19 and a beta of 1.01. The firm’s 50-day moving average price is $77.10 and its two-hundred day moving average price is $89.00.

NIKE (NYSE:NKE) last released its earnings results 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 return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cim LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $14,275,000. TKG Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $1,012,000. Brown Advisory Inc. increased its holdings in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after buying an additional 192,752 shares in the last quarter. Missouri Trust & Investment Co raised its stake in shares of NIKE by 11.3% in the fourth quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock valued at $1,248,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Spartan Planning & Wealth Management acquired a new position in shares of NIKE in the 4th quarter worth approximately $182,000. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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.