NIKE (NYSE:NKE) Given New $116.00 Price Target at Morgan Stanley

NIKE (NYSE:NKE) had its target price trimmed by Morgan Stanley from $124.00 to $116.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the footwear maker’s stock.

A number of other equities analysts also recently weighed in on NKE. The Goldman Sachs Group cut their price target on shares of NIKE from $135.00 to $120.00 and set a buy rating on the stock in a report on Friday, March 22nd. Barclays cut their price target on shares of NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a report on Monday. Truist Financial reissued a hold rating and issued a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a sector perform rating and set a $100.00 price objective (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, TheStreet downgraded shares of NIKE from a b rating to a c+ rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $116.75.

NIKE Stock Performance

NYSE NKE opened at $94.15 on Wednesday. NIKE has a 1 year low of $88.66 and a 1 year high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a market cap of $143.29 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.78 and a beta of 1.10. The company has a fifty day moving average price of $101.65 and a 200-day moving average price of $103.69.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities research analysts predict that NIKE will post 3.65 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s payout ratio is 43.53%.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Freedom LLC purchased a new stake in NIKE in the fourth quarter worth $29,000. Iron Horse Wealth Management LLC lifted 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. Impact Partnership Wealth LLC lifted its position in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the period. Planned Solutions Inc. purchased a new position in NIKE during the fourth quarter valued at $29,000. Finally, True Wealth Design LLC lifted its position in 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 period. 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.