NIKE (NYSE:NKE) Price Target Lowered to $75.00 at TD Cowen

NIKE (NYSE:NKE) had its price target reduced by TD Cowen from $89.00 to $75.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a hold rating on the footwear maker’s stock.

Several other equities analysts have also issued reports on the company. UBS Group reduced their target price on NIKE from $138.00 to $125.00 and set a buy rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. decreased their target price on NIKE from $122.00 to $116.00 and set an overweight rating for the company in a research report on Thursday, June 20th. StockNews.com downgraded shares of NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $100.00 and set a hold rating for the company in a report on Friday, March 22nd. Finally, Sanford C. Bernstein dropped their target price on shares of NIKE from $134.00 to $120.00 and set an outperform rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $98.96.

NIKE Price Performance

Shares of NYSE:NKE opened at $75.37 on Friday. 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 PE ratio of 20.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The stock’s fifty day simple moving average is $93.28 and its two-hundred day simple moving average is $98.85. NIKE has a 1-year low of $74.55 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts forecast that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was 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 $68,357.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $4,237,200.00. Following 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. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in 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 in the last quarter. Iron Horse Wealth Management LLC boosted its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the period. Planned Solutions Inc. bought a new position in shares of NIKE during the fourth quarter valued at about $29,000. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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.