NIKE (NYSE:NKE) Reaches New 12-Month Low – Time to Sell?

NIKE, Inc. (NYSE:NKE) reached a new 52-week low during trading on Monday . The stock traded as low as $35.38 and last traded at $35.48, with a volume of 4441841 shares. The stock had previously closed at $35.51.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s planned marketplace reset—rebuilding wholesale distribution, reducing promotions and emphasizing full-price sales—could improve profitability and restore brand reach over time. NIKE’s Marketplace Strategy: Balancing Reach and Profitability?
• Positive Sentiment: NIKE previously exceeded quarterly EPS expectations by 54%, providing a potential catalyst if the company can repeat that performance in the upcoming report. Its elevated dividend yield is also attracting income-focused investors, with a quarterly payment scheduled for next month. Nike Beat Last Quarter’s EPS Estimate by 54% — Can It Repeat That Oct. 1?
• Positive Sentiment: The appointment of LVMH executive Alexandre Arnault to NIKE’s board may add luxury, international and consumer-brand expertise to its recovery efforts. Nike Brings in LVMH’s Alexandre Arnault as it Drops out of the S&P 100

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group set a $42.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Rothschild & Co Redburn dropped their price target on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research note on Friday, July 17th. Citigroup lowered NIKE from a “neutral” rating to a “negative” rating in a report on Monday, September 14th. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $68.00 target price (down from $72.00) on shares of NIKE in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.77.

NIKE Stock Down 0.0%

The stock has a 50-day simple moving average of $40.04 and a 200-day simple moving average of $43.93. The firm has a market capitalization of $53.55 billion, a PE ratio of 17.27, a P/E/G ratio of 1.84 and a beta of 1.10. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 1.67 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, September 1st. NIKE’s payout ratio is presently 78.47%.

Insider Buying and Selling

In other news, CFO Matthew Friend sold 2,463 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the sale, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the sale, the insider owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,974 shares of company stock valued at $600,126. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Scarborough Advisors LLC purchased a new position in shares of NIKE in the first quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in NIKE during the fourth quarter valued at $26,000. Sankala Group LLC purchased a new position in NIKE in the fourth quarter worth about $26,000. Meeder Asset Management Inc. increased its position in shares of NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, Atlas Wealth LLC bought a new position in NIKE during the first quarter valued at $31,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.