NIKE (NYSE:NKE) Price Target Lowered to $81.00 at Barclays

NIKE (NYSE:NKE) had its price target cut by Barclays from $84.00 to $81.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the footwear maker’s stock.

A number of other research firms have also issued reports on NKE. Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the company a hold rating in a report on Monday, September 30th. The Goldman Sachs Group dropped their target price on NIKE from $118.00 to $105.00 and set a buy rating on the stock in a report on Friday, June 28th. Royal Bank of Canada dropped their target price on NIKE from $85.00 to $82.00 and set a sector perform rating on the stock in a report on Wednesday. StockNews.com lowered NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Finally, Piper Sandler reissued a neutral rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $96.04.

NIKE Price 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 twelve month low of $70.75 and a twelve month high of $123.39. The stock has a 50 day moving average of $80.90 and a two-hundred day moving average of $86.15. The stock has a market cap 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.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts forecast 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. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

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

Hedge Funds Weigh In On NIKE

Large investors have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC increased its stake in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $33,000. Core Wealth Advisors Inc. increased its stake in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $38,000. 64.25% of the stock is currently owned by hedge funds and other 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.