NIKE (NYSE:NKE) Given New $92.00 Price Target at BMO Capital Markets

NIKE (NYSE:NKE) had its price target reduced by BMO Capital Markets from $95.00 to $92.00 in a research report released on Friday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the footwear maker’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Robert W. Baird decreased their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Needham & Company LLC decreased their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Trading Down 5.4 %

NYSE NKE opened at $68.02 on Friday. The stock’s 50-day simple moving average is $74.70 and its two-hundred day simple moving average is $77.46. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $100.60 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.35%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

A number of hedge funds have recently made changes to their positions in NKE. Norges Bank bought a new stake in shares of NIKE in the 4th quarter worth approximately $1,126,288,000. Wellington Management Group LLP boosted its position in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. raised its holdings in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

About NIKE

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.