NIKE (NYSE:NKE) Stock Price Down 0.1% – Should You Sell?

NIKE, Inc. (NYSE:NKE) was down 0.1% during trading on Thursday . The company traded as low as $83.60 and last traded at $83.84. Approximately 2,935,729 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 11,693,102 shares. The stock had previously closed at $83.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NKE shares. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Barclays decreased their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. HSBC dropped their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. BMO Capital Markets lowered their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm’s fifty day simple moving average is $82.64 and its 200 day simple moving average is $85.32. The stock has a market capitalization of $125.16 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the business posted $0.94 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Annapolis Financial Services LLC grew its position in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC grew its holdings in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC raised its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Financial Synergies Wealth Advisors Inc. raised its holdings in NIKE by 64.4% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 480 shares of the footwear maker’s stock worth $45,000 after acquiring an additional 188 shares in the last quarter. Finally, Bruce G. Allen Investments LLC boosted its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.