NIKE (NYSE:NKE) Stock Price Down 1.9%

NIKE, Inc. (NYSE:NKE) shares traded down 1.9% during mid-day trading on Tuesday . The company traded as low as $77.86 and last traded at $77.94. 2,605,857 shares changed hands during trading, a decline of 77% from the average session volume of 11,341,661 shares. The stock had previously closed at $79.49.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Jefferies Financial Group dropped their price target on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Finally, Royal Bank of Canada decreased their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Fourteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a 50-day moving average of $76.99 and a 200-day moving average of $88.38. The firm has a market cap of $116.79 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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 company 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 business posted $0.66 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 2,941 shares of the company’s 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 acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD raised its holdings in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Capital International Investors lifted its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new stake in shares of NIKE in the 1st quarter valued at $533,533,000. Finally, Capital World Investors increased its position in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. Institutional investors 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.