By otakuyassine3@gmail.com 
NIKE, Inc. (NYSE:NKE – Get Free Report) shares fell 1.4% 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. 6,525,321 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 12,334,340 shares. The stock had previously closed at $67.94.
Several other research analysts have also weighed in on the stock. Needham & Company LLC dropped their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Bank of America dropped their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial cut 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. Evercore ISI lowered their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley cut their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.
View Our Latest Research Report on NKE
Insider Transactions at NIKE
In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’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 in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On NIKE
A number of hedge funds have recently modified their holdings of the stock. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the third quarter worth $30,000. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the 4th 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. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter valued at about $28,000. Roxbury Financial LLC bought a new position in NIKE during the 4th quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
NIKE Trading Down 1.1 %
The company’s fifty day moving average price is $74.52 and its two-hundred day moving average price is $77.21. 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 cap of $98.57 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.
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 (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.40%. NIKE’s dividend payout ratio (DPR) is 53.16%.
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.
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