NIKE (NYSE:NKE) Shares Down 1% After Analyst Downgrade

NIKE, Inc. (NYSE:NKE - Get Free Report) fell 1% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $64.00 to $56.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. NIKE traded as low as $57.29 and last traded at $58.01. 4,586,674 shares traded hands during trading, a decline of 68% from the average session volume of 14,526,930 shares. The stock had previously closed at $58.59.

NKE has been the subject of several other reports. Cfra Research raised NIKE to a "moderate buy" rating in a report on Friday, March 21st. Piper Sandler reduced their price target on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut shares of NIKE from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $75.00 to $55.00 in a research note on Wednesday, April 30th. Robert W. Baird cut their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, Berenberg Bank began coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective for the company. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.85.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $28,000. Caitlin John LLC raised its position in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Roxbury Financial LLC bought a new stake in NIKE during the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during 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 last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE in the 4th quarter worth approximately $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 1.1 %

The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average price is $64.63 and its two-hundred day moving average price is $72.00. The stock has a market capitalization of $85.69 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business's revenue was down 9.1% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. NIKE's dividend payout ratio is presently 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.

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