NIKE (NYSE:NKE) PT Lowered to $105.00

NIKE (NYSE:NKE) had its price objective trimmed by Evercore ISI from $110.00 to $105.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

NKE has been the topic of several other reports. Piper Sandler restated a neutral rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Raymond James restated a market perform rating on shares of NIKE in a report on Friday, June 28th. Wedbush lowered their price target on NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research note on Friday, June 28th. Truist Financial reduced their price objective on shares of NIKE from $85.00 to $83.00 and set a hold rating on the stock in a research note on Wednesday. Finally, Robert W. Baird upped their target price on shares of NIKE from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $96.04.

NIKE Stock Performance

Shares of NYSE:NKE opened at $82.25 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market capitalization of $124.14 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. The business has a 50-day moving average price of $80.90 and a two-hundred day moving average price of $86.15.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts predict that NIKE will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.80%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Annapolis Financial Services LLC increased its holdings 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. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. increased its stake in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new position in NIKE during the fourth quarter valued at approximately $38,000. Institutional investors 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.