NIKE (NYSE:NKE) Shares Down 13% – Time to Sell?

Shares of NIKE, Inc. (NYSE:NKE) were down 13% on Thursday . The company traded as low as $56.02 and last traded at $56.51. Approximately 30,029,261 shares were traded during trading, an increase of 130% from the average daily volume of 13,039,118 shares. The stock had previously closed at $64.96.

Analyst Ratings Changes

Several brokerages have recently weighed in on NKE. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a report on Monday, March 17th. Royal Bank of Canada reduced their price target on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, March 21st. Finally, BMO Capital Markets lowered their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a 50-day moving average of $72.96 and a 200-day moving average of $76.33. The firm has a market capitalization of $84.57 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC bought a new position in NIKE in the fourth quarter worth about $28,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the period. Roxbury Financial LLC bought a new position in shares of NIKE in the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA lifted its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.