NIKE (NYSE:NKE) Stock Price Down 1.1% – Should You Sell?

NIKE, Inc. (NYSE:NKE) was down 1.1% during trading on Tuesday . The stock traded as low as $66.72 and last traded at $66.68. Approximately 4,591,829 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 12,408,980 shares. The stock had previously closed at $67.39.

Analysts Set New Price Targets

NKE has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company cut their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Price Performance

The company has a market cap of $97.42 billion, a P/E ratio of 20.33, a PEG ratio of 2.52 and a beta of 1.02. 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 company has a fifty day moving average price of $74.42 and a two-hundred day moving average price of $77.13.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Range Financial Group LLC bought a new position in NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC bought a new position in NIKE in the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE in the 4th quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

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.