NIKE (NYSE:NKE) Sets New 52-Week Low - Here's Why

NIKE, Inc. (NYSE:NKE - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $70.62 and last traded at $70.66, with a volume of 4378061 shares changing hands. The stock had previously closed at $72.08.

Analysts Set New Price Targets

Several research firms recently issued reports on NKE. Jefferies Financial Group upped their target price on NIKE from $80.00 to $85.00 and gave the company a "hold" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, December 2nd. Needham & Company LLC restated a "buy" rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Finally, Telsey Advisory Group cut shares of NIKE from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.96.

NIKE Stock Down 1.4 %

The firm has a 50 day moving average price of $76.05 and a 200-day moving average price of $78.06. The firm has a market cap of $105.15 billion, a PE ratio of 20.37, a PEG ratio of 1.89 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.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from NIKE's previous quarterly dividend of $0.37. NIKE's payout ratio is presently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business's stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock worth $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock worth $44,000 after purchasing an additional 169 shares during the period. Riverview Trust Co purchased a new position in NIKE in the third quarter valued at approximately $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of NIKE during the 3rd quarter valued at $54,000. Institutional investors and hedge funds 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.