NIKE (NYSE:NKE) Price Target Cut to $53.00 by Analysts at Barclays

NIKE (NYSE:NKE) had its target price decreased by Barclays from $60.00 to $53.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the footwear maker’s stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, May 5th. China Renaissance initiated coverage on NIKE in a report on Wednesday, March 19th. They set a “hold” rating for the company. Stifel Nicolaus reduced their price target on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Truist Financial reduced their price target on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Bank of America reduced their price target on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 25th. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.15.

NIKE Trading Down 0.9%

Shares of NYSE NKE opened at $59.47 on Wednesday. NIKE has a one year low of $52.28 and a one year high of $98.04. The firm has a market capitalization of $87.96 billion, a PE ratio of 19.76, a PEG ratio of 2.11 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $59.57 and a two-hundred day moving average price of $68.36.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. As a group, analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction on 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 transaction, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP grew its position in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. grew its position in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Geode Capital Management LLC boosted its stake in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Finally, Capital World Investors boosted its stake in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. 64.25% of the stock is currently 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.