NIKE (NYSE:NKE) Stock Price Down 0.3% - Here's What Happened

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price fell 0.3% during trading on Wednesday . The stock traded as low as $54.41 and last traded at $54.64. 4,766,557 shares were traded during trading, a decline of 74% from the average session volume of 18,135,016 shares. The stock had previously closed at $54.83.

Analysts Set New Price Targets

Several analysts recently issued reports on NKE shares. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Berenberg Bank began coverage on NIKE in a report on Tuesday. They set a "hold" rating and a $58.00 price target for the company. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, December 20th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Sixteen 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $85.15.

NIKE Price Performance

The company has a market cap of $82.44 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15. The stock has a 50-day simple moving average of $68.71 and a 200 day simple moving average of $74.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $11.02 billion. During the same period last year, the business earned $0.98 earnings per share. NIKE's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction dated 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 transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

Several hedge funds have recently modified their holdings of NKE. Tidal Investments LLC increased its stake in shares of NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock valued at $9,332,000 after buying an additional 41,752 shares in the last quarter. Denver PWM LLC increased its position in NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock valued at $228,000 after acquiring an additional 227 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock worth $18,621,000 after acquiring an additional 14,592 shares during the last quarter. Cacti Asset Management LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $9,987,000. Finally, GAMMA Investing LLC grew its stake in shares of NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.