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

NIKE (NYSE:NKE) had its price objective cut by Evercore ISI from $110.00 to $105.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Wedbush reiterated an outperform rating and issued a $115.00 target price on shares of NIKE in a research report on Tuesday, April 30th. Citigroup decreased their target price on shares of NIKE from $135.00 to $125.00 and set a buy rating on the stock in a research note on Thursday, March 14th. TD Cowen dropped their price target on NIKE from $89.00 to $75.00 and set a hold rating for the company in a research report on Friday. Piper Sandler reduced their price objective on NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research report on Friday, March 22nd. Finally, Wells Fargo & Company dropped their target price on NIKE from $120.00 to $115.00 and set an overweight rating for the company in a report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Trading Down 20.0 %

NKE stock opened at $75.37 on Friday. NIKE has a 12-month low of $74.55 and a 12-month high of $123.39. The business’s 50-day moving average is $93.28 and its 200 day moving average is $98.85. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a market cap of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 in the last three months. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in NKE. Sherbrooke Park Advisers LLC acquired a new position in NIKE during the 3rd quarter worth approximately $432,000. United Services Automobile Association grew its stake in shares of NIKE by 18.1% during the third quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock worth $3,215,000 after purchasing an additional 5,165 shares in the last quarter. Kidder Stephen W grew its stake in shares of NIKE by 5.3% during the third quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock worth $3,495,000 after purchasing an additional 1,850 shares in the last quarter. Gateway Advisory LLC purchased a new position in NIKE in the third quarter valued at $583,000. Finally, Quadrature Capital Ltd raised its stake in NIKE by 80.9% in the third quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock valued at $101,969,000 after buying an additional 476,837 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.