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

NIKE, Inc. (NYSE:NKE)’s share price dropped 0.5% during mid-day 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. Approximately 3,223,107 shares were traded during trading, a decline of 72% from the average daily volume of 11,713,527 shares. The stock had previously closed at $83.10.

A number of other brokerages have also weighed in on NKE. Bank of America lowered their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. JPMorgan Chase & Co. lowered their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.04.

Insider Transactions 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on 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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NKE. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% in 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 period. Longview Partners Guernsey LTD bought a new position in NIKE in the 1st quarter worth about $533,533,000. Capital World Investors boosted its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the period. Jennison Associates LLC boosted its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. Finally, PineStone Asset Management Inc. boosted its position in shares of NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.5 %

The stock has a market cap of $124.81 billion, a P/E ratio of 22.17, a P/E/G 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. The stock has a 50-day moving average price of $80.50 and a 200-day moving average price of $86.39.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.79%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

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.