NIKE (NYSE:NKE) Trading Down 1.3% – Should You Sell?

NIKE, Inc. (NYSE:NKE)’s stock price traded down 1.3% on Monday . The company traded as low as $80.80 and last traded at $81.12. 2,228,060 shares were traded during mid-day trading, a decline of 81% from the average session volume of 11,707,948 shares. The stock had previously closed at $82.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Telsey Advisory Group lowered their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group reduced their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Trading Down 0.7 %

The stock has a market capitalization of $123.16 billion, a PE ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $81.66 and a 200 day simple moving average of $85.58.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of NKE. Ascent Wealth Partners LLC raised its holdings in NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after buying an additional 115 shares during the period. Condor Capital Management lifted its position in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares in the last quarter. Lodestone Wealth Management LLC grew its holdings in NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares in the last quarter. Nvwm LLC lifted its holdings in NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after buying an additional 120 shares in the last quarter. Finally, Pitcairn Co. grew its stake in NIKE by 0.5% during the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after purchasing an additional 132 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.