NIKE (NYSE:NKE) PT Lowered to $81.00 at Barclays

by · The Markets Daily

NIKE (NYSE:NKE – Free Report) had its target price trimmed by Barclays from $84.00 to $81.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the footwear maker’s stock.

NKE has been the subject of several other reports. TD Cowen increased their target price on NIKE from $71.00 to $78.00 and gave the company a hold rating in a research note on Wednesday. Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday, September 20th. Wells Fargo & Company increased their target price on NIKE from $86.00 to $95.00 and gave the company an overweight rating in a research note on Friday, September 20th. Daiwa America cut NIKE from a moderate buy rating to a hold rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group raised their price objective on NIKE from $80.00 to $85.00 and gave the stock a hold rating in a research note on Monday, September 30th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of Moderate Buy and a consensus price target of $96.04.

Get Our Latest Analysis on NIKE

NIKE Stock Up 0.2 %

NYSE NKE opened at $82.26 on Wednesday. The stock has a market cap of $124.15 billion, a PE ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50 day moving average price of $80.90 and a two-hundred day moving average price of $86.24. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS. As a group, sell-side analysts predict that NIKE will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.80%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction 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 $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cim LLC acquired a new position in shares of NIKE in the 4th quarter valued at $14,275,000. TKG Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $1,012,000. Spartan Planning & Wealth Management acquired a new stake in NIKE during the 4th quarter worth about $182,000. Advisors Asset Management Inc. boosted its position in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the period. Finally, Enzi Wealth acquired a new stake in NIKE during the 4th quarter worth about $520,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

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.

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