Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) dropped 1.3% during mid-day trading on Monday . The company traded as low as $70.06 and last traded at $71.13. Approximately 9,756,455 shares traded hands during trading, a decline of 36% from the average daily volume of 15,333,199 shares. The stock had previously closed at $72.04.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. China Renaissance assumed coverage on NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Morgan Stanley upped their target price on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Stifel Nicolaus reduced their price target on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.19.
Check Out Our Latest Stock Report on NIKE
NIKE Stock Performance
The company's 50-day moving average is $60.93 and its two-hundred day moving average is $67.40. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market cap of $108.54 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.21.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. NIKE's revenue was down 11.9% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.
NIKE Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 53.16%.
Insider Transactions at NIKE
In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director directly owned 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.
Institutional Trading of NIKE
Institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC raised its holdings in NIKE by 0.5% during the 2nd quarter. Confluence Investment Management LLC now owns 248,154 shares of the footwear maker's stock valued at $17,629,000 after acquiring an additional 1,224 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new position in NIKE in the 1st quarter worth about $2,645,000. Swedbank AB grew its holdings in NIKE by 2.8% during the 1st quarter. Swedbank AB now owns 953,011 shares of the footwear maker's stock valued at $60,497,000 after buying an additional 26,026 shares in the last quarter. Voya Investment Management LLC increased its position in shares of NIKE by 1.8% during the first quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker's stock valued at $92,266,000 after buying an additional 25,481 shares during the period. Finally, BROOKFIELD Corp ON lifted its holdings in shares of NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
About NIKE
(
Get Free Report)
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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