NIKE (NYSE:NKE) Stock Price Down 1.5%

NIKE, Inc. (NYSE:NKE)’s stock price was down 1.5% on Friday . The company traded as low as $82.05 and last traded at $82.05. Approximately 2,314,686 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 11,385,605 shares. The stock had previously closed at $83.26.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday, June 28th. UBS Group reaffirmed a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Truist Financial cut their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Price Performance

The stock has a market cap of $124.63 billion, a P/E ratio of 22.00, a PEG ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s fifty day moving average price is $78.43 and its 200 day moving average price is $89.81.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping 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 analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In other news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE 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 transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beta Wealth Group Inc. increased its position in NIKE by 2.3% during the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after purchasing an additional 101 shares during the period. Kampmann Melissa S. grew its position in shares of NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC grew its position in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares during the period. Condor Capital Management grew its position in shares of 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 buying an additional 116 shares during the period. Finally, West Family Investments Inc. grew its position in shares of NIKE by 4.4% during the 4th quarter. West Family Investments Inc. now owns 2,816 shares of the footwear maker’s stock worth $306,000 after buying an additional 118 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.