NIKE (NYSE:NKE) Reaches New 52-Week Low – Here’s What Happened

NIKE, Inc. (NYSE:NKE)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $55.40 and last traded at $55.49, with a volume of 71401127 shares. The stock had previously closed at $64.96.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Evercore ISI cut their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company’s fifty day moving average price is $72.96 and its 200 day moving average price is $76.30. The company has a market cap of $84.57 billion, a PE ratio of 17.65, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted 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. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.80%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the 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 represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitlin John LLC lifted its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth $28,000. Roxbury Financial LLC bought a new position in shares of NIKE during the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA increased its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE in the 4th quarter valued at about $30,000. 64.25% of the stock is owned by institutional investors.

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.