NIKE (NYSE:NKE) Stock Price Down 0%

NIKE, Inc. (NYSE:NKE) shares traded down 0% during mid-day trading on Wednesday . The stock traded as low as $80.23 and last traded at $80.60. 1,442,268 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 11,227,163 shares. The stock had previously closed at $80.64.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Royal Bank of Canada dropped their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. HSBC dropped their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Finally, Bank of America dropped their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $95.33.

NIKE Trading Up 0.1 %

The stock has a market cap of $122.21 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.08 and a beta of 1.02. The business’s fifty day simple moving average is $77.84 and its 200 day simple moving average is $87.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm 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%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, research analysts predict that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently modified their holdings of the company. Annapolis Financial Services LLC lifted its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC raised its position in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE in the fourth quarter worth about $33,000. Core Wealth Advisors Inc. raised its position in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in NIKE in the fourth quarter worth about $36,000. Institutional investors and hedge funds 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.