NIKE (NYSE:NKE) Price Target Lowered to $105.00 at Evercore ISI

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

A number of other research analysts also recently commented on the stock. Williams Trading raised shares of NIKE from a sell rating to a buy rating and boosted their price objective for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Guggenheim dropped their price target on shares of NIKE from $130.00 to $115.00 and set a buy rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group lowered their target price on NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research note on Friday, June 28th. Piper Sandler reaffirmed a neutral rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Finally, Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an outperform rating for the company in a report on Thursday, September 19th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of Moderate Buy and an average price target of $96.04.

NIKE Stock Performance

Shares of NKE opened at $82.25 on Wednesday. The company 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 price-to-earnings ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02. 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 one year low of $70.75 and a one year high of $123.39.

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, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities research analysts expect that NIKE will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred 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 approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. 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.

Institutional Trading of NIKE

Several hedge funds have recently modified their holdings of NKE. Annapolis Financial Services LLC grew its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Core Wealth Advisors Inc. increased its stake in shares of 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 buying an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at about $33,000. Finally, Pineridge Advisors LLC acquired a new position in NIKE during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.