Nike (NKE) Stock Price Down 6.6% Following Analyst Downgrade

Nike Inc (NYSE:NKE)’s share price dropped 6.6% during trading on Friday after UBS Group lowered their price target on the stock from $87.00 to $86.00. UBS Group currently has a neutral rating on the stock. Nike traded as low as $82.15 and last traded at $82.19. Approximately 21,476,054 shares changed hands during trading, an increase of 224% from the average daily volume of 6,623,544 shares. The stock had previously closed at $88.01.

Several other equities analysts also recently commented on the stock. Morgan Stanley set a $103.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, December 11th. Bank of America set a $55.00 price target on shares of Nike and gave the stock a “sell” rating in a research note on Sunday, December 30th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $85.00 price target on shares of Nike in a research note on Thursday, December 27th. Robert W. Baird downgraded shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 price target for the company. in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Goldman Sachs Group set a $84.00 price target on shares of Nike and gave the stock a “hold” rating in a research note on Sunday, December 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $86.96.

In other news, EVP John F. Slusher sold 200,000 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the sale, the executive vice president now owns 284,805 shares in the company, valued at $21,089,810.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 816,500 shares of company stock worth $63,317,465. Corporate insiders own 3.90% of the company’s stock.



Several large investors have recently bought and sold shares of NKE. Girard Partners LTD. raised its position in Nike by 4.0% in the third quarter. Girard Partners LTD. now owns 27,330 shares of the footwear maker’s stock worth $2,315,000 after acquiring an additional 1,043 shares during the period. Fosun International Ltd raised its position in Nike by 115.5% in the third quarter. Fosun International Ltd now owns 36,627 shares of the footwear maker’s stock worth $3,096,000 after acquiring an additional 19,627 shares during the period. Kavar Capital Partners LLC bought a new position in Nike in the third quarter worth approximately $4,259,000. River Wealth Advisors LLC raised its position in Nike by 29.5% in the third quarter. River Wealth Advisors LLC now owns 5,876 shares of the footwear maker’s stock worth $498,000 after acquiring an additional 1,340 shares during the period. Finally, San Francisco Sentry Investment Group CA raised its position in Nike by 18.3% in the third quarter. San Francisco Sentry Investment Group CA now owns 8,335 shares of the footwear maker’s stock worth $707,000 after acquiring an additional 1,290 shares during the period. Hedge funds and other institutional investors own 64.77% of the company’s stock.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. The stock has a market capitalization of $136.43 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 2.67 and a beta of 0.68.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Equities analysts expect that Nike Inc will post 2.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.07%. Nike’s payout ratio is 36.36%.

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About Nike (NYSE:NKE)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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