NIKE (NYSE:NKE) Trading Down 0.2% – Time to Sell?

NIKE, Inc. (NYSE:NKE)’s share price was down 0.2% during mid-day trading on Wednesday . The stock traded as low as $52.80 and last traded at $53.17. Approximately 9,231,418 shares traded hands during trading, a decline of 32% from the average daily volume of 13,647,384 shares. The stock had previously closed at $53.27.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. BMO Capital Markets lowered their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Fifteen equities 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Price Performance

The stock has a market capitalization of $86.71 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.52 and a beta of 1.15. The company’s 50-day simple moving average is $71.65 and its 200-day simple moving average is $75.69. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its position in shares of NIKE by 109,628.6% in the 1st quarter. NBC Securities Inc. now owns 7,681 shares of the footwear maker’s stock valued at $487,000 after buying an additional 7,674 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in NIKE by 9.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 5,677 shares of the footwear maker’s stock valued at $360,000 after buying an additional 505 shares during the period. Addenda Capital Inc. lifted its stake in shares of NIKE by 12.5% in the 1st quarter. Addenda Capital Inc. now owns 192,982 shares of the footwear maker’s stock valued at $12,313,000 after purchasing an additional 21,475 shares during the period. American National Bank & Trust boosted its stake in NIKE by 668.9% during the first quarter. American National Bank & Trust now owns 5,751 shares of the footwear maker’s stock worth $365,000 after acquiring an additional 5,003 shares in the last quarter. Finally, Iowa State Bank grew its stake in NIKE by 2.3% in the first quarter. Iowa State Bank now owns 32,071 shares of the footwear maker’s stock valued at $2,036,000 after acquiring an additional 722 shares during the period. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.