NIKE (NYSE:NKE) PT Lowered to $81.00 at Truist Financial

NIKE (NYSE:NKE) had its price target cut by Truist Financial from $99.00 to $81.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the footwear maker’s stock.

A number of other equities research analysts have also commented on the company. Barclays lowered NIKE from an overweight rating to an equal weight rating and reduced their price target for the company from $109.00 to $80.00 in a research report on Friday. The Goldman Sachs Group decreased their target price on shares of NIKE from $135.00 to $120.00 and set a buy rating for the company in a research report on Friday, March 22nd. Piper Sandler dropped their price target on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company decreased their price objective on shares of NIKE from $120.00 to $115.00 and set an overweight rating for the company in a research report on Monday, June 10th. Finally, Sanford C. Bernstein dropped their target price on shares of NIKE from $134.00 to $120.00 and set an outperform rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $98.96.

NIKE Stock Down 20.0 %

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

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $12.86 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on 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 transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the 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 $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on 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 sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last three months, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Large investors have recently made changes to their positions in the business. Piscataqua Savings Bank increased its holdings in NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after buying an additional 100 shares during the last quarter. Physicians Financial Services Inc. increased its stake in shares of NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after purchasing an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. raised its holdings in shares of NIKE by 4.0% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after purchasing an additional 100 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after purchasing an additional 100 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in NIKE by 0.8% during the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after purchasing an additional 101 shares during the period. 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.