NIKE (NYSE:NKE) Shares Down 0.1% – Here’s Why

Shares of NIKE, Inc. (NYSE:NKE) traded down 0.1% during mid-day trading on Thursday . The stock traded as low as $83.60 and last traded at $83.84. 2,935,729 shares changed hands during trading, a decline of 75% from the average session volume of 11,693,102 shares. The stock had previously closed at $83.94.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. 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 report on Wednesday, October 2nd. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 0.6 %

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 50 day moving average price of $82.64 and a two-hundred day moving average price of $85.32. The company has a market capitalization of $125.16 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several large investors have recently made changes to their positions in the business. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC grew its position in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Financial Synergies Wealth Advisors Inc. raised its position in shares of NIKE by 64.4% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 480 shares of the footwear maker’s stock valued at $45,000 after buying an additional 188 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the period. 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.