NIKE (NYSE:NKE) Stock Price Down 1.5% - Time to Sell?

NIKE, Inc. (NYSE:NKE - Get Free Report) shares were down 1.5% during mid-day trading on Tuesday . The company traded as low as $54.42 and last traded at $54.57. Approximately 4,020,805 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 14,055,326 shares. The stock had previously closed at $55.41.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKE. Guggenheim reiterated a "buy" rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Royal Bank of Canada cut their price target on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday, March 21st. Piper Sandler decreased their price objective on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Berenberg Bank initiated coverage on NIKE in a report on Tuesday. They issued a "hold" rating and a $58.00 price target on the stock. Finally, Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Sixteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average price target of $85.15.

NIKE Stock Performance

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's 50 day moving average is $68.39 and its 200-day moving average is $73.85. The company has a market cap of $82.44 billion, a PE ratio of 17.20, a PEG ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

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

Hedge Funds Weigh In On NIKE

Several institutional investors have recently bought and sold shares of the company. GSB Wealth Management LLC boosted its stake in shares of NIKE by 37.0% in the first quarter. GSB Wealth Management LLC now owns 8,549 shares of the footwear maker's stock valued at $543,000 after purchasing an additional 2,310 shares during the period. Rakuten Securities Inc. boosted its holdings in NIKE by 7.0% in the first quarter. Rakuten Securities Inc. now owns 8,372 shares of the footwear maker's stock valued at $531,000 after purchasing an additional 550 shares during the period. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd purchased a new stake in NIKE during the 1st quarter worth about $12,651,000. Chicago Capital LLC raised its holdings in NIKE by 71.7% in the first quarter. Chicago Capital LLC now owns 15,224 shares of the footwear maker's stock valued at $966,000 after acquiring an additional 6,355 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in shares of NIKE by 14.1% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 134,902 shares of the footwear maker's stock valued at $8,564,000 after purchasing an additional 16,620 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.