5 Biggest Losers This Week

2. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 72

Shares of NIKE, Inc. (NYSE:NKE) fell nearly 13 percent this week. Much of that drop came after the footwear and apparel giant cautioned that its margins would stay under pressure throughout the year.

NIKE, Inc. (NYSE:NKE) has been offering heaving discounts to clear its elevated inventory levels. Like the rest of the industry, the hefty promotions are eating up its margins. In addition, the strengthening dollar is also weighing on its profitability.

Meanwhile, NIKE, Inc. (NYSE:NKE) recently announced better-than-expected results for its fiscal first quarter. The company earned 93 cents per share on revenue of $12.7 billion. On the other hand, analysts were looking for earnings of 92 cents per share on revenue of $12.3 billion.

Despite beating expectations, Wedbush analyst Tom Nikic cut its price target for NIKE, Inc. (NYSE:NKE) from $121 per share to $101 per share. The analysts called the latest results “choppy.”