Evercore ISI Cuts NIKE (NYSE:NKE) Price Target to $97.00

NIKE (NYSE:NKE) had its price objective trimmed by Evercore ISI from $105.00 to $97.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company decreased their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Barclays decreased their target price on shares of NIKE from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $93.15.

NIKE Stock Performance

NYSE:NKE opened at $76.90 on Monday. The stock’s 50-day moving average is $78.28 and its 200-day moving average is $80.80. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $115.30 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. Equities research analysts anticipate that NIKE will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

Institutional Investors Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Denver PWM LLC boosted its stake in NIKE by 9.7% during the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after purchasing an additional 227 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after purchasing an additional 41,752 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in shares of NIKE by 12.2% during the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after buying an additional 3,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in NIKE by 8.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after buying an additional 20,043 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in NIKE by 59.9% in the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after buying an additional 395,434 shares during the last quarter. 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.