NIKE (NYSE:NKE) Shares Down 0.5%

NIKE, Inc. (NYSE:NKE) dropped 0.5% during mid-day trading on Thursday . The company traded as low as $77.55 and last traded at $78.00. Approximately 1,618,474 shares changed hands during trading, a decline of 86% from the average daily volume of 11,312,143 shares. The stock had previously closed at $78.40.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Telsey Advisory Group lowered their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price target (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and upped their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Stock Up 0.2 %

The firm’s fifty day moving average is $77.09 and its 200-day moving average is $88.12. The company has a market capitalization of $118.58 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.88%. NIKE’s payout ratio is currently 39.68%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase 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 NIKE stock in a transaction dated 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 completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the business. Cim LLC bought a new stake in NIKE in the 4th quarter worth approximately $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth about $1,012,000. Brown Advisory Inc. boosted its holdings in NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after acquiring an additional 192,752 shares during the period. Missouri Trust & Investment Co lifted its position in 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 purchasing an additional 1,167 shares during the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in shares of NIKE in the fourth quarter worth $182,000. 64.25% of the stock is currently owned by institutional investors.

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.