NIKE (NYSE:NKE) Stock Price Down 0.4% – Here’s What Happened

Shares of NIKE, Inc. (NYSE:NKE) were down 0.4% during trading on Friday . The company traded as low as $81.18 and last traded at $81.74. Approximately 3,368,410 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 11,718,442 shares. The stock had previously closed at $82.10.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. Raymond James restated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Jefferies Financial Group raised their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Finally, Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Performance

The stock has a 50 day moving average of $81.49 and a 200 day moving average of $85.77. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $122.65 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its 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. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued 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 was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 42.41%.

Insider Transactions at NIKE

In other NIKE 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 value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. Cim LLC acquired a new stake in NIKE during the 4th quarter worth approximately $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth $1,012,000. Spartan Planning & Wealth Management bought a new stake in shares of NIKE in the fourth quarter worth $182,000. Advisors Asset Management Inc. increased its holdings in NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after purchasing an additional 9,689 shares during the period. Finally, FORA Capital LLC bought a new position in NIKE during the 1st quarter worth $3,412,000. 64.25% of the stock is currently owned by 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.