NIKE (NYSE:NKE) Stock Price Down 1.5% – What’s Next?

NIKE, Inc. (NYSE:NKE)’s share price traded down 1.5% on Wednesday . The stock traded as low as $44.15 and last traded at $44.3590. 13,208,890 shares traded hands during trading, a decline of 31% from the average session volume of 19,268,402 shares. The stock had previously closed at $45.03.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Telsey Advisory Group decreased their target price on NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, April 1st. Evercore dropped their price target on NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Citigroup reduced their price target on NIKE from $65.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of NIKE in a report on Monday, April 13th. Finally, Williams Trading lowered their price objective on NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.34.

NIKE Stock Up 0.2%

The company’s fifty day moving average price is $51.39 and its 200-day moving average price is $59.75. The stock has a market capitalization of $65.85 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, March 2nd. NIKE’s dividend payout ratio is currently 108.61%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction dated Thursday, April 9th. The stock was purchased at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy D. Cook bought 25,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 64,441 shares of company stock valued at $2,734,204 over the last ninety days. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors have recently bought and sold shares of the stock. Cornerstone Financial Management LLC purchased a new position in shares of NIKE in the fourth quarter valued at about $26,000. Sankala Group LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $26,000. J.Safra Asset Management Corp purchased a new stake in shares of NIKE during the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new stake in NIKE during the 4th quarter valued at approximately $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in NIKE in the 4th quarter worth approximately $32,000. 64.25% of the stock is owned by institutional investors.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).