NIKE (NYSE:NKE) Trading Down 1.3%

NIKE, Inc. (NYSE:NKE)’s share price dropped 1.3% on Wednesday . The stock traded as low as $72.24 and last traded at $72.43. Approximately 3,392,884 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 11,361,242 shares. The stock had previously closed at $73.40.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $109.00 to $80.00 in a research note on Friday, June 28th. Wedbush dropped their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.30.

NIKE Trading Up 1.0 %

The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $85.90 and its two-hundred day simple moving average is $93.96. The stock has a market capitalization of $108.84 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.85 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 323,660 shares of company stock valued at $27,973,033 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Hedge funds have recently made changes to their positions in the company. Annapolis Financial Services LLC increased its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $29,000. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.