NIKE (NYSE:NKE) Price Target Lowered to $64.00 at Stifel Nicolaus

NIKE (NYSE:NKE) had its target price decreased by Stifel Nicolaus from $75.00 to $64.00 in a report issued on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the footwear maker’s stock.

Several other analysts have also issued reports on the company. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Guggenheim reiterated a “buy” rating and set a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Barclays dropped their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $86.19.

NIKE Stock Up 0.1 %

Shares of NIKE stock opened at $54.44 on Thursday. NIKE has a twelve month low of $52.28 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’s 50 day moving average is $70.03 and its 200 day moving average is $74.93. The company has a market cap of $80.52 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last posted its 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. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Research analysts anticipate that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now 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 disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently modified their holdings of the stock. Caitlin John LLC increased its holdings in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the fourth quarter valued at $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter valued at about $30,000. LFA Lugano Financial Advisors SA lifted its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE in the fourth quarter worth about $30,000. Institutional investors own 64.25% of the company’s stock.

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.