NIKE (NYSE:NKE) Price Target Cut to $75.00 by Analysts at Royal Bank of Canada

NIKE (NYSE:NKE) had its price target lowered by Royal Bank of Canada from $100.00 to $75.00 in a research report report published on Tuesday, Marketbeat reports. The brokerage currently has a sector perform rating on the footwear maker’s stock.

A number of other research analysts also recently commented on the company. Barclays downgraded NIKE from an overweight rating to an equal weight rating and lowered their price objective for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Citigroup lowered their price target on shares of NIKE from $115.00 to $102.00 and set a buy rating for the company in a research report on Friday, June 28th. Jefferies Financial Group cut their price objective on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a research report on Friday, March 22nd. Morgan Stanley reissued an equal weight rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Oppenheimer restated an outperform rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, NIKE has a consensus rating of Hold and an average target price of $97.19.

NIKE Trading Down 1.1 %

NYSE NKE opened at $75.24 on Tuesday. 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 has a one year low of $74.29 and a one year high of $123.39. The company has a 50-day simple moving average of $92.19 and a 200-day simple moving average of $98.06. The firm has a market capitalization of $113.56 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. On average, equities analysts forecast that NIKE will post 3.32 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, 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. Insiders have sold 213,660 shares of company stock valued at $19,946,333 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently bought and sold shares of the business. Hudson Valley Investment Advisors Inc. ADV lifted its position in shares of NIKE by 19.5% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 8,299 shares of the footwear maker’s stock worth $625,000 after purchasing an additional 1,356 shares in the last quarter. GAMMA Investing LLC lifted its position in NIKE by 50.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,473 shares of the footwear maker’s stock worth $1,242,000 after buying an additional 5,521 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in NIKE by 9.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 12,229 shares of the footwear maker’s stock worth $922,000 after buying an additional 1,067 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of NIKE by 31.4% during the 2nd quarter. Confluence Investment Management LLC now owns 228,972 shares of the footwear maker’s stock valued at $17,258,000 after buying an additional 54,672 shares during the period. Finally, NBW Capital LLC grew its holdings in shares of NIKE by 0.9% during the 1st 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. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.