NIKE (NYSE:NKE) PT Lowered to $97.00 at Wedbush

NIKE (NYSE:NKE) had its target price lowered by Wedbush from $115.00 to $97.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

NKE has been the subject of a number of other research reports. Barclays cut their price objective on shares of NIKE from $142.00 to $114.00 and set an overweight rating for the company in a research note on Monday, March 25th. Royal Bank of Canada restated a sector perform rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Piper Sandler decreased their price objective on NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a report on Friday, March 22nd. Truist Financial restated a hold rating and set a $99.00 target price on shares of NIKE in a report on Thursday, June 20th. Finally, TD Cowen decreased their price target on NIKE from $89.00 to $75.00 and set a hold rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $98.96.

NIKE Stock Down 20.0 %

NKE opened at $75.37 on Friday. The business’s fifty day simple moving average is $93.28 and its 200 day simple moving average is $98.85. NIKE has a 52 week low of $74.55 and a 52 week high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $113.76 billion, a PE ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. As a group, research analysts expect that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is 39.68%.

Insider Transactions at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Capital International Investors grew its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Norges Bank bought a new position in NIKE in the 4th quarter worth $1,315,097,000. Finally, Fisher Asset Management LLC lifted its position in NIKE by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

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.