NIKE (NYSE:NKE) Shares Down 1.3% – Time to Sell?

NIKE, Inc. (NYSE:NKE) shares were down 1.3% during trading on Monday . The company traded as low as $80.80 and last traded at $81.12. Approximately 2,228,060 shares were traded during trading, a decline of 81% from the average daily volume of 11,707,948 shares. The stock had previously closed at $82.15.

Analyst Ratings Changes

A number of analysts have commented on NKE shares. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Performance

The company has a market cap of $126.70 billion, a PE ratio of 22.52, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $82.05 and a 200-day moving average of $85.41.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 EPS. NIKE’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 1.76%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other 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 directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Transcendent Capital Group LLC raised its stake in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at $42,000. 64.25% of the stock is owned by institutional investors.

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.