NIKE (NYSE:NKE) PT Lowered to $71.00

NIKE (NYSE:NKE) had its target price decreased by TD Cowen from $75.00 to $71.00 in a report published on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the footwear maker’s stock.

A number of other equities analysts also recently commented on NKE. The Goldman Sachs Group cut their price objective on NIKE from $118.00 to $105.00 and set a buy rating on the stock in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $115.00 to $92.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada cut their price objective on NIKE from $100.00 to $75.00 and set a sector perform rating on the stock in a report on Tuesday, July 2nd. Wedbush cut their price objective on NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a report on Friday, June 28th. Finally, BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $96.30.

NIKE Stock Up 1.6 %

Shares of NYSE:NKE opened at $72.56 on Thursday. The stock’s 50-day moving average price is $85.51 and its two-hundred day moving average price is $93.62. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 12-month low of $70.91 and a 12-month high of $123.39. The firm has a market cap of $109.52 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.89 and a beta of 1.01.

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 42.63% 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 last year, the company earned $0.66 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that NIKE will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.04%. NIKE’s payout ratio is 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,660 shares of company stock worth $27,973,033. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC boosted 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 valued at $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the 4th quarter valued at $29,000. True Wealth Design LLC raised its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in NIKE during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.