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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Royal Bank of Canada cut their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. HSBC cut their price target on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Finally, BMO Capital Markets cut their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Up 0.1 %

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 company’s fifty day moving average price is $81.66 and its 200-day moving average price is $85.64. The stock has a market capitalization of $123.99 billion, a PE ratio of 22.02, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The business 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 earnings per share. Analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Spartan Planning & Wealth Management bought a new stake in NIKE during the fourth quarter valued at approximately $182,000. Advisors Asset Management Inc. grew its position in NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the period. FORA Capital LLC bought a new stake in NIKE during the first quarter valued at approximately $3,412,000. Cetera Advisors LLC grew its position in NIKE by 85.5% during the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after buying an additional 40,704 shares during the period. Finally, Koshinski Asset Management Inc. bought a new stake in NIKE during the first quarter valued at approximately $713,000. 64.25% of the stock is owned by hedge funds and other 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.