NIKE (NYSE:NKE) Price Target Cut to $73.00 by Analysts at UBS Group

NIKE (NYSE:NKE) had its target price lowered by UBS Group from $80.00 to $73.00 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the footwear maker’s stock.

Other equities analysts have also issued research reports about the company. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $93.00 to $80.00 in a research note on Friday. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Price Performance

NYSE:NKE opened at $76.94 on Friday. The company has a market capitalization of $115.36 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.89 and a beta of 1.02. The company has a 50-day moving average of $78.07 and a 200-day moving average of $80.65. NIKE has a 52 week low of $70.75 and a 52 week high of $123.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. As a group, equities research analysts anticipate that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its position in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Riverview Trust Co acquired a new position in NIKE during the third quarter worth $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in NIKE in the 3rd quarter valued at $54,000. 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.