NIKE (NYSE:NKE) Stock Price Down 1.4% – Here’s What Happened

NIKE, Inc. (NYSE:NKE) dropped 1.4% on Monday . The stock traded as low as $81.08 and last traded at $81.08. Approximately 2,789,579 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 11,737,493 shares. The stock had previously closed at $82.25.

Analyst Ratings Changes

A number of analysts have commented on NKE shares. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.04.

NIKE Stock Performance

The business has a 50 day moving average of $81.18 and a 200-day moving average of $85.82. 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 company has a market capitalization of $121.87 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last posted 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 for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced 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 was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently made changes to their positions in the business. Cim LLC bought a new stake in NIKE in the fourth quarter worth $14,275,000. TKG Advisors LLC bought a new stake in NIKE in the fourth quarter valued at approximately $1,012,000. Spartan Planning & Wealth Management purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $182,000. Advisors Asset Management Inc. increased its stake in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. Finally, FORA Capital LLC purchased a new position in shares of NIKE in the first quarter worth $3,412,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.