NIKE (NYSE:NKE) Price Target Cut to $97.00 by Analysts at Evercore ISI

NIKE (NYSE:NKE) had its target price lowered by Evercore ISI from $105.00 to $97.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Telsey Advisory Group cut their target price on shares of NIKE from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Monday. Robert W. Baird boosted their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, UBS Group reduced their price objective on NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.15.

NIKE Stock Down 0.1 %

NYSE NKE opened at $77.21 on Monday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market capitalization of $115.77 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.93 and a beta of 1.02. The stock’s 50 day moving average is $78.44 and its two-hundred day moving average is $80.95. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that NIKE will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Denver PWM LLC grew its stake in NIKE by 9.7% in the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after acquiring an additional 227 shares during the period. Tidal Investments LLC grew its position in shares of NIKE by 65.4% in the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after purchasing an additional 41,752 shares during the period. Soltis Investment Advisors LLC grew its position in shares of NIKE by 12.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after purchasing an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in NIKE by 8.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after buying an additional 20,043 shares during the period. Finally, Toronto Dominion Bank lifted its stake in NIKE by 59.9% in the third quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after buying an additional 395,434 shares in the last quarter. 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.