NIKE (NYSE:NKE) Price Target Lowered to $64.00 at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its price target decreased by JPMorgan Chase & Co. from $73.00 to $64.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the footwear maker’s stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. Needham & Company LLC lowered their price target on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. BMO Capital Markets lowered their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, China Renaissance started coverage on NIKE in a report on Wednesday. They issued a “hold” rating for the company. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Price Performance

Shares of NKE stock opened at $68.02 on Friday. NIKE has a 1-year low of $65.17 and a 1-year high of $98.04. The stock’s 50-day moving average is $74.70 and its 200 day moving average is $77.46. The company has a market cap of $100.60 billion, a P/E ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. Research analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

A number of institutional investors have recently made changes to their positions in the company. Prostatis Group LLC boosted its stake in shares of NIKE by 29.9% in the fourth quarter. Prostatis Group LLC now owns 13,705 shares of the footwear maker’s stock worth $1,037,000 after acquiring an additional 3,153 shares during the last quarter. Centaurus Financial Inc. boosted its stake in NIKE by 9.6% during the fourth quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker’s stock worth $171,000 after buying an additional 198 shares during the last quarter. Aegis Wealth Management LLC acquired a new position in NIKE during the fourth quarter worth $295,000. Copia Wealth Management acquired a new position in NIKE during the fourth quarter worth $358,000. Finally, Wood Tarver Financial Group LLC acquired a new position in NIKE during the fourth quarter worth $57,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.