NIKE (NYSE:NKE) PT Lowered to $100.00

NIKE (NYSE:NKE) had its price target trimmed by Robert W. Baird from $125.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

NKE has been the subject of a number of other research reports. Williams Trading reissued a sell rating and issued a $85.00 target price (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Wells Fargo & Company lowered their price target on shares of NIKE from $120.00 to $115.00 and set an overweight rating for the company in a report on Monday, June 10th. Royal Bank of Canada reiterated a sector perform rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Citigroup reduced their price objective on NIKE from $135.00 to $125.00 and set a buy rating on the stock in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Stock Up 1.9 %

Shares of NKE opened at $76.83 on Friday. The firm has a 50 day simple moving average of $93.28 and a two-hundred day simple moving average of $98.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a one year low of $74.29 and a one year high of $123.39. The company has a market cap of $115.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the company posted $0.66 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts forecast that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio is 39.68%.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC lifted its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE in the fourth quarter valued at $29,000. True Wealth Design LLC grew its holdings in shares of NIKE by 106.4% during the fourth 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 during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth about $33,000. 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.