NIKE (NYSE:NKE) Reaches New 1-Year Low on Analyst Downgrade

NIKE, Inc. (NYSE:NKE) shares reached a new 52-week low during trading on Friday after Stifel Nicolaus lowered their price target on the stock from $75.00 to $64.00. Stifel Nicolaus currently has a hold rating on the stock. NIKE traded as low as $52.28 and last traded at $54.41, with a volume of 53856635 shares changing hands. The stock had previously closed at $59.32.

Other equities analysts have also issued reports about the company. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Bank of America cut their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.96.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. XTX Topco Ltd bought a new position in NIKE in the 3rd quarter worth about $418,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of NIKE by 8.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after buying an additional 20,043 shares during the last quarter. Tidal Investments LLC increased its position in shares of NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after acquiring an additional 41,752 shares in the last quarter. Denver PWM LLC raised its holdings in NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock worth $228,000 after acquiring an additional 227 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its position in NIKE by 6.3% in the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after acquiring an additional 14,592 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 8.3 %

The firm has a market capitalization of $80.48 billion, a PE ratio of 16.79, a P/E/G ratio of 2.52 and a beta of 1.15. The firm has a 50 day simple moving average of $70.48 and a 200 day simple moving average of $75.16. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.94%. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.