NIKE (NYSE:NKE) Trading Down 0.5% on Analyst Downgrade

NIKE, Inc. (NYSE:NKE)’s stock price traded down 0.5% during trading on Thursday after Barclays lowered their price target on the stock from $84.00 to $81.00. Barclays currently has an equal weight rating on the stock. NIKE traded as low as $82.31 and last traded at $82.69. 3,223,107 shares were traded during trading, a decline of 72% from the average session volume of 11,713,527 shares. The stock had previously closed at $83.10.

A number of other brokerages have also commented on NKE. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Robert W. Baird raised their target price on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group increased their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.04.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the 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 owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This represents 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 company insiders.

Institutional Trading of NIKE

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Legal & General Group Plc raised its position in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Fisher Asset Management LLC boosted its stake in NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares in the last quarter. Finally, Jennison Associates LLC grew its position in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

The stock’s 50 day simple moving average is $80.90 and its 200-day simple moving average is $86.24. The firm has a market cap of $124.15 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm earned $0.94 EPS. The firm’s revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

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

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.