NIKE (NYSE:NKE) Price Target Lowered to $92.00 at BMO Capital Markets

NIKE (NYSE:NKE) had its price target cut by BMO Capital Markets from $95.00 to $92.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

A number of other brokerages have also weighed in on NKE. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Morgan Stanley reduced their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Price Performance

Shares of NYSE NKE opened at $68.02 on Friday. The firm has a market cap of $100.60 billion, a P/E ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $74.70 and a 200 day moving average of $77.46. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. As a group, research analysts expect that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the 4th quarter valued at about $28,000. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the 3rd quarter valued at about $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE during the 4th quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. 64.25% of the stock is currently 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.