NIKE (NYSE:NKE) Hits New 52-Week Low – What’s Next?

NIKE, Inc. (NYSE:NKE) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $64.95 and last traded at $65.76, with a volume of 18682768 shares. The stock had previously closed at $66.54.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NKE shares. Guggenheim reissued a “buy” rating and set a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price target on shares of NIKE in a report on Monday, March 17th. Barclays dropped their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Cfra Research raised NIKE to a “moderate buy” rating in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

NIKE Trading Down 3.8 %

The stock’s 50-day simple moving average is $74.16 and its 200-day simple moving average is $76.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $93.65 billion, a PE ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several large investors have recently made changes to their positions in the business. JNBA Financial Advisors increased its position in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares in the last quarter. Frisch Financial Group Inc. increased its holdings in shares of NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after acquiring an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares during the last quarter. Elgethun Capital Management grew its position in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after purchasing an additional 149 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after purchasing an additional 150 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.