The Goldman Sachs Group Lowers NIKE (NYSE:NKE) Price Target to $105.00

NIKE (NYSE:NKE) had its target price reduced by The Goldman Sachs Group from $118.00 to $105.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

Several other equities research analysts also recently weighed in on NKE. Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a neutral rating for the company in a research report on Friday, March 22nd. Telsey Advisory Group dropped their target price on shares of NIKE from $115.00 to $100.00 and set an outperform rating for the company in a research report on Friday. Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an outperform rating for the company in a research report on Friday. Sanford C. Bernstein decreased their price target on shares of NIKE from $134.00 to $120.00 and set an outperform rating for the company in a report on Friday, March 22nd. Finally, Barclays lowered shares of NIKE from an overweight rating to an equal weight rating and decreased their price target for the company from $109.00 to $80.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given 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 Performance

NIKE stock opened at $76.83 on Friday. NIKE has a 12-month low of $74.29 and a 12-month high of $123.39. The company has a market capitalization of $115.96 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm’s fifty day moving average price is $93.28 and its 200 day moving average price is $98.85.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, research analysts forecast that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.93%. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

A number of large investors have recently made changes to their positions in the company. Annapolis Financial Services LLC increased its stake in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. Iron Horse Wealth Management LLC increased its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in NIKE in the 4th quarter valued at approximately $29,000. True Wealth Design LLC increased its stake in NIKE by 106.4% in 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 during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in NIKE in the 4th quarter valued at approximately $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.