NIKE (NYSE:NKE) Hits New 52-Week Low at $74.12

NIKE, Inc. (NYSE:NKE)’s share price reached a new 52-week low on Monday . The stock traded as low as $74.12 and last traded at $74.33, with a volume of 5405331 shares changing hands. The stock had previously closed at $75.43.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial cut their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Telsey Advisory Group cut their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Bank of America cut their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.19.

NIKE Price Performance

The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $109.49 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The firm has a 50 day moving average price of $90.63 and a 200 day moving average price of $96.64.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Research analysts anticipate that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.04%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its holdings in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC boosted its holdings in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the 4th quarter valued at about $29,000. True Wealth Design LLC raised its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the 4th quarter valued at about $33,000. Institutional investors 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.