NIKE (NYSE:NKE) PT Lowered to $102.00

NIKE (NYSE:NKE) had its price target decreased by Citigroup from $115.00 to $102.00 in a report published on Friday, Benzinga reports. Citigroup currently has a buy rating on the footwear maker’s stock.

Other research analysts have also issued research reports about the stock. Wedbush dropped their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday. Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company dropped their price objective on shares of NIKE from $115.00 to $92.00 and set an overweight rating on the stock in a report on Friday. Robert W. Baird reduced their target price on shares of NIKE from $125.00 to $100.00 and set an outperform rating for the company in a research note on Friday. Finally, Royal Bank of Canada restated a sector perform rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Stock Down 20.0 %

NIKE stock opened at $75.37 on Friday. The company’s 50-day moving average price is $93.28 and its two-hundred day moving average price is $98.85. 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 price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. NIKE has a 52 week low of $74.55 and a 52 week high of $123.39.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently modified their holdings of NKE. 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 grew its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. purchased a new position in shares of NIKE during the fourth quarter valued at approximately $29,000. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% in the 4th 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 last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in NIKE in the fourth quarter valued at about $33,000. 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.