NIKE (NYSE:NKE) PT Lowered to $90.00 at HSBC

NIKE (NYSE:NKE) had its target price lowered by HSBC from $100.00 to $90.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the footwear maker’s stock.

A number of other brokerages also recently commented on NKE. Wedbush lowered their price target on shares of NIKE from $115.00 to $97.00 and set an outperform rating for the company in a report on Friday. Stifel Nicolaus reissued a hold rating and issued a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research note on Friday. Telsey Advisory Group reduced their target price on shares of NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Piper Sandler reduced their target price on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research report on Friday, March 22nd. Finally, KeyCorp reissued a sector weight rating on shares of NIKE in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $98.96.

NIKE Trading Down 20.0 %

NYSE:NKE opened at $75.37 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. NIKE has a one year low of $74.55 and a one year high of $123.39. The business has a fifty day moving average price of $93.28 and a 200-day moving average price of $98.85.

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 business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that NIKE will post 3.9 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in NKE. NBW Capital LLC increased its position in shares of NIKE by 0.9% in the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after purchasing an additional 431 shares during the last quarter. IMS Capital Management grew its position in shares of NIKE by 2.7% in the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after buying an additional 589 shares during the last quarter. American Trust grew its position in shares of NIKE by 9.5% in the 1st quarter. American Trust now owns 44,107 shares of the footwear maker’s stock valued at $4,145,000 after buying an additional 3,833 shares during the last quarter. Portland Hill Asset Management Ltd purchased a new position in shares of NIKE in the 1st quarter valued at $958,000. Finally, Soltis Investment Advisors LLC grew its position in shares of NIKE by 62.6% in the 1st quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after buying an additional 10,958 shares during the last quarter. 64.25% of the stock is currently 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.