Robert W. Baird Lowers NIKE (NYSE:NKE) Price Target to $100.00

NIKE (NYSE:NKE) had its price target reduced by Robert W. Baird from $125.00 to $100.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

Several other brokerages also recently weighed in on NKE. JPMorgan Chase & Co. cut their target price on shares of NIKE from $122.00 to $116.00 and set an overweight rating for the company in a research note on Thursday, June 20th. Barclays reduced their price objective on shares of NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a research note on Monday, March 25th. The Goldman Sachs Group lowered their target price on shares of NIKE from $135.00 to $120.00 and set a buy rating for the company in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reissued a buy rating and set a $115.00 price target on shares of NIKE in a research note on Thursday, June 13th. Finally, Wells Fargo & Company lowered their price objective on NIKE from $120.00 to $115.00 and set an overweight rating for the company in a research report on Monday, June 10th. Two investment 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. According to MarketBeat.com, NIKE currently has a consensus rating of Hold and an average price target of $98.96.

NIKE Trading Up 1.9 %

Shares of NKE opened at $76.83 on Friday. 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 1-year low of $74.29 and a 1-year high of $123.39. The stock has a market cap 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 firm has a 50 day simple moving average of $93.28 and a 200-day simple moving average of $98.85.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts forecast that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders 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 presently 39.68%.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on 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 approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition 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 that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. In the last three months, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC raised its stake 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 valued at $25,000 after purchasing an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in NIKE by 120.7% in the fourth 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 last quarter. Planned Solutions Inc. acquired a new stake in NIKE during the fourth quarter valued at approximately $29,000. True Wealth Design LLC lifted its holdings in 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 buying an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $33,000. 64.25% of the stock is currently owned by institutional investors.

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.