NIKE (NYSE:NKE) Stock Price Down 0.5%

NIKE, Inc. (NYSE:NKE) shares dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $82.81 and last traded at $82.88. Approximately 1,847,738 shares were traded during trading, a decline of 84% from the average daily volume of 11,490,361 shares. The stock had previously closed at $83.28.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Truist Financial dropped their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, HSBC reduced their price target on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

NIKE Stock Performance

The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $79.91 and its two-hundred day moving average is $90.64. The firm has a market capitalization of $126.12 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.77%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’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 value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently modified their holdings of the business. J.Safra Asset Management Corp grew its position in shares of NIKE by 12.9% during the 4th quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock worth $96,000 after purchasing an additional 101 shares in the last quarter. Beta Wealth Group Inc. raised its holdings in NIKE by 2.3% in the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after acquiring an additional 101 shares in the last quarter. Kennon Green & Company LLC raised its holdings in NIKE by 1.6% in the 4th quarter. Kennon Green & Company LLC now owns 6,765 shares of the footwear maker’s stock valued at $734,000 after acquiring an additional 107 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of NIKE by 5.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,155 shares of the footwear maker’s stock worth $234,000 after purchasing an additional 113 shares in the last quarter. Finally, Kampmann Melissa S. increased its position in shares of NIKE by 0.8% in the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after purchasing an additional 115 shares during the period. Institutional investors own 64.25% of the company’s stock.

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.