NIKE (NYSE:NKE) Trading Down 1.4% Following Analyst Downgrade

NIKE, Inc. (NYSE:NKE - Get Free Report) shares dropped 1.4% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $73.00 to $64.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. NIKE traded as low as $66.86 and last traded at $67.02. Approximately 6,525,321 shares changed hands during trading, a decline of 47% from the average daily volume of 12,334,340 shares. The stock had previously closed at $67.94.

NKE has been the subject of several other research reports. Evercore ISI decreased their price target on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. Telsey Advisory Group reiterated a "market perform" rating and set a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Finally, China Renaissance began coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating on the stock. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $87.38.

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Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction dated 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 transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter valued at about $28,000. Caitlin John LLC grew its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the 3rd quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new position in NIKE in the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 3.1 %

The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $94.35 billion, a PE ratio of 19.67, a PEG ratio of 2.52 and a beta of 1.02. The company's 50 day moving average is $74.31 and its two-hundred day moving average is $77.05.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating 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 firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's payout ratio is 53.16%.

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.