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

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

A number of other brokerages have also weighed in on NKE. Raymond James reaffirmed a market perform rating on shares of NIKE in a research note on Friday. Evercore ISI decreased their target price on shares of NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research note on Friday. Jefferies Financial Group decreased their target price on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a research note on Friday, March 22nd. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Finally, UBS Group reissued a neutral rating and issued a $78.00 target price on shares of NIKE in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of Hold and an average target price of $98.96.

NIKE Trading Up 1.9 %

Shares of NIKE stock opened at $76.83 on Friday. The firm has a market capitalization of $115.96 billion, a PE ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01. NIKE has a twelve month low of $74.29 and a twelve month high of $123.39. The firm’s 50-day moving average price is $93.28 and its 200 day moving average price is $98.85. 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 (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS. On average, sell-side analysts predict that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.93%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors have recently modified their holdings of the company. Piscataqua Savings Bank lifted its position in shares of NIKE by 2.1% during the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after purchasing an additional 100 shares during the last quarter. Physicians Financial Services Inc. boosted its stake in NIKE by 0.6% in the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after acquiring an additional 100 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its stake in NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after acquiring an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after acquiring an additional 100 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in NIKE by 0.8% in the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after acquiring an additional 101 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.