NIKE (NYSE:NKE) Stock Price Down 0%

NIKE, Inc. (NYSE:NKE) dropped 0% during trading on Wednesday . The stock traded as low as $80.23 and last traded at $80.60. Approximately 1,442,268 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 11,227,163 shares. The stock had previously closed at $80.64.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. Barclays boosted their price objective on shares of NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus lowered their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. TD Cowen cut their target price on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Finally, Royal Bank of Canada decreased their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $95.74.

NIKE Trading Up 0.5 %

The company has a 50-day simple moving average of $77.52 and a 200 day simple moving average of $87.32. The company has a market capitalization of $122.38 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.08 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 issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating 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 the consensus estimate of $12.86 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.83%. NIKE’s dividend payout ratio is 39.68%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired 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 owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of NIKE by 0.5% in 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 purchasing an additional 501,792 shares in the last quarter. Capital International Investors boosted its position in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% in 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 buying an additional 7,996,434 shares in the last quarter. Legal & General Group Plc grew its stake in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.