NIKE (NYSE:NKE) Price Target Lowered to $79.00 at Stifel Nicolaus

NIKE (NYSE:NKE) had its price objective decreased by Stifel Nicolaus from $88.00 to $79.00 in a report published on Monday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the footwear maker’s stock.

NKE has been the topic of several other reports. Barclays lowered shares of NIKE from an overweight rating to an equal weight rating and cut their price objective for the company from $109.00 to $80.00 in a report on Friday, June 28th. StockNews.com lowered NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a buy rating for the company in a report on Friday, June 28th. Royal Bank of Canada decreased their target price on NIKE from $100.00 to $75.00 and set a sector perform rating for the company in a research report on Tuesday, July 2nd. Finally, Evercore ISI cut their price target on shares of NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of Moderate Buy and a consensus target price of $95.59.

NIKE Stock Up 0.3 %

Shares of NKE opened at $84.27 on Monday. The business’s fifty day moving average price is $78.86 and its two-hundred day moving average price is $89.99. The firm has a market capitalization of $127.19 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.92 and a beta of 1.01. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts predict that NIKE will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.76%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Hedge funds have recently bought and sold shares of the company. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% in 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 raised its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its holdings in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in NIKE during the fourth quarter worth $33,000. Finally, Gold Investment Management Ltd. acquired a new position in shares of NIKE in the fourth quarter valued at $36,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.