NIKE (NYSE:NKE) Stock Price Down 0.3% – Time to Sell?

NIKE, Inc. (NYSE:NKE)’s stock price dropped 0.3% during trading on Friday . The stock traded as low as $83.06 and last traded at $83.15. Approximately 1,411,839 shares traded hands during trading, a decline of 88% from the average daily volume of 11,673,237 shares. The stock had previously closed at $83.40.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. Wedbush cut their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, TD Cowen upped their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Trading Down 0.6 %

The company has a market capitalization of $125.10 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business’s 50-day moving average price is $82.46 and its two-hundred day moving average price is $85.38.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 39.68%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NKE. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter worth approximately $533,533,000. Capital World Investors lifted its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the period. Jennison Associates LLC increased its position in 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 purchasing an additional 2,775,510 shares during the period. PineStone Asset Management Inc. raised its holdings in NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.