NIKE (NYSE:NKE) Price Target Lowered to $109.00 at Sanford C. Bernstein

NIKE (NYSE:NKE) had its target price cut by Sanford C. Bernstein from $112.00 to $109.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

A number of other research firms also recently issued reports on NKE. Wedbush decreased their price target on shares of NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday, June 28th. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company decreased their price target on shares of NIKE from $115.00 to $92.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Morgan Stanley reaffirmed an equal weight rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Raymond James reaffirmed a market perform rating on shares of NIKE in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $96.15.

NIKE Price Performance

NKE stock opened at $86.52 on Thursday. NIKE has a one year low of $70.75 and a one year high of $123.39. The company’s fifty day moving average price is $78.11 and its 200-day moving average price is $87.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $130.59 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS 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 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’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 sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently modified their holdings of the company. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at about $33,000. Core Wealth Advisors Inc. lifted its position in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE during the fourth quarter valued at about $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.