NIKE, Inc. (NYSE:NKE – Get Free Report)’s share price fell 1.1% during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $115.00 to $92.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. NIKE traded as low as $75.02 and last traded at $75.24. 15,952,008 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 17,969,314 shares. The stock had previously closed at $76.04.
Several other analysts also recently weighed in on NKE. Bank of America cut their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Sanford C. Bernstein cut their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group lowered their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $97.19.
Insider Buying and Selling
In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired 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 of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Over the last three months, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by company insiders.
Institutional Trading of NIKE
Several large investors have recently added to or reduced their stakes in the business. Piscataqua Savings Bank grew its position in NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in shares of NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares during the period. ZWJ Investment Counsel Inc. boosted its holdings in shares of NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after buying an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after buying an additional 100 shares during the period. Finally, Claro Advisors LLC boosted its holdings in shares of NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after buying an additional 101 shares during the period. 64.25% of the stock is owned by institutional investors.
NIKE Trading Down 1.1 %
The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average is $92.19 and its 200-day moving average is $98.06. The firm has a market capitalization of $113.56 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.85 and a beta of 1.01.
NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.32 earnings per share for the current fiscal year.
NIKE Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is currently 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.