Telsey Advisory Group Cuts NIKE (NYSE:NKE) Price Target to $100.00

NIKE (NYSE:NKE) had its price target trimmed by Telsey Advisory Group from $115.00 to $100.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

A number of other research firms have also recently weighed in on NKE. TD Cowen cut their price target on NIKE from $89.00 to $75.00 and set a hold rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $115.00 target price on shares of NIKE in a report on Thursday, June 13th. Truist Financial reiterated a hold rating and set a $99.00 price target on shares of NIKE in a report on Thursday, June 20th. Barclays reduced their price objective on shares of NIKE from $142.00 to $114.00 and set an overweight rating on the stock in a research note on Monday, March 25th. Finally, Wells Fargo & Company cut their price target on NIKE from $120.00 to $115.00 and set an overweight rating for the company in a report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $98.96.

NIKE Price Performance

NIKE stock opened at $75.37 on Friday. The firm has a market capitalization 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 has a 52 week low of $74.55 and a 52 week high of $123.39. The firm’s 50-day simple moving average is $93.28 and its 200 day simple moving average is $98.85. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in the business. NBW Capital LLC raised its holdings in NIKE by 0.9% in the first quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after acquiring an additional 431 shares in the last quarter. IMS Capital Management raised its stake in shares of NIKE by 2.7% in the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after purchasing an additional 589 shares in the last quarter. American Trust lifted its position in shares of NIKE by 9.5% during the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after purchasing an additional 3,833 shares during the last quarter. Portland Hill Asset Management Ltd bought a new position in shares of NIKE during the first quarter worth about $958,000. Finally, Soltis Investment Advisors LLC increased its holdings in NIKE by 62.6% in the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after buying an additional 10,958 shares during the last quarter. 64.25% of the stock is 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.