NIKE (NYSE:NKE) Trading Down 1.2% After Analyst Downgrade

NIKE, Inc. (NYSE:NKE) shares traded down 1.2% during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $115.00 to $92.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. NIKE traded as low as $75.09 and last traded at $75.10. 5,486,269 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 10,658,148 shares. The stock had previously closed at $76.04.

NKE has been the subject of several other reports. Wedbush decreased their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Citigroup decreased their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Truist Financial decreased their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday, June 28th. Finally, Bank of America decreased their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $97.19.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of large investors have recently bought and sold shares of NKE. Annapolis Financial Services LLC increased its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new position in NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC boosted its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth approximately $33,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The business has a 50-day simple moving average of $92.58 and a two-hundred day simple moving average of $98.22. The stock has a market cap of $113.61 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 3.47 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is presently 39.68%.

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.