NIKE (NYSE:NKE) Given New $74.00 Price Target at Morgan Stanley

NIKE (NYSE:NKE) had its price objective trimmed by Morgan Stanley from $80.00 to $74.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the footwear maker’s stock.

Several other equities research analysts have also recently weighed in on the company. Sanford C. Bernstein decreased their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. UBS Group decreased their target price on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Jefferies Financial Group increased their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Down 0.2 %

Shares of NYSE NKE opened at $76.94 on Friday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market cap of $115.36 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a 50 day simple moving average of $78.07 and a 200 day simple moving average of $80.65.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts forecast that NIKE will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ING Groep NV purchased a new stake in shares of NIKE in the third quarter worth about $29,628,000. Cordatus Wealth Management LLC lifted its stake in NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its holdings in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares during the period. Coldstream Capital Management Inc. grew its position in shares of NIKE by 62.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock valued at $10,347,000 after purchasing an additional 46,567 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in shares of NIKE by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock worth $3,557,000 after purchasing an additional 13,300 shares during the period. 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.