NIKE, Inc. (NYSE:NKE - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $55.40 and last traded at $55.49, with a volume of 71401127 shares traded. The stock had previously closed at $64.96.
Wall Street Analysts Forecast Growth
Several research firms have commented on NKE. BMO Capital Markets decreased their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. Telsey Advisory Group restated a "market perform" rating and set a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Barclays decreased their price objective on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Finally, Needham & Company LLC dropped their target price on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.38.
View Our Latest Stock Analysis on NKE
NIKE Stock Down 5.6 %
The firm has a market cap of $79.92 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.52 and a beta of 1.15. The firm has a fifty day moving average price of $72.96 and a 200-day moving average price of $76.27. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.
NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the firm posted $0.98 EPS. The business's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.
NIKE Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. NIKE's payout ratio is 53.16%.
Insider Activity at NIKE
In related news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The shares were 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 of the company's stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.
Institutional Investors Weigh In On NIKE
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Exeter Financial LLC grew its holdings in NIKE by 14.4% during the 1st quarter. Exeter Financial LLC now owns 5,135 shares of the footwear maker's stock worth $326,000 after acquiring an additional 645 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of NIKE by 16.2% during the first quarter. Quent Capital LLC now owns 2,631 shares of the footwear maker's stock valued at $167,000 after acquiring an additional 366 shares during the period. Versant Capital Management Inc boosted its stake in NIKE by 156.6% during the 1st quarter. Versant Capital Management Inc now owns 6,017 shares of the footwear maker's stock valued at $382,000 after purchasing an additional 3,672 shares during the period. Jacobs & Co. CA grew its position in NIKE by 1.7% in the 1st quarter. Jacobs & Co. CA now owns 159,631 shares of the footwear maker's stock worth $10,133,000 after purchasing an additional 2,676 shares during the last quarter. Finally, Marcum Wealth LLC raised its holdings in shares of NIKE by 9.1% during the first quarter. Marcum Wealth LLC now owns 12,065 shares of the footwear maker's stock valued at $766,000 after buying an additional 1,003 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
About NIKE
(
Get Free Report)
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.
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