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 sent to investors on Tuesday, Marketbeat.com reports. Royal Bank of Canada currently has a sector perform rating on the footwear maker’s stock.

Several other research firms have also commented on NKE. Morgan Stanley reiterated an equal weight rating and issued a $79.00 price target (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Telsey Advisory Group lowered their price target on shares of NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Barclays lowered shares of NIKE from an overweight rating to an equal weight rating and decreased their target price for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. Stifel Nicolaus restated a hold rating and set a $88.00 target price (down previously from $117.00) on shares of NIKE in a research report on Friday, June 28th. Finally, BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of Hold and a consensus target price of $97.19.

NIKE Trading Up 0.3 %

Shares of NIKE stock opened at $75.44 on Tuesday. NIKE has a 12-month low of $74.29 and a 12-month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market cap of $113.87 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The company has a 50-day moving average of $91.81 and a two-hundred day moving average of $97.90.

NIKE (NYSE:NKE) last released its quarterly earnings results 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 business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. On average, research analysts anticipate that NIKE will post 3.29 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Buying and Selling

In other news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 in the last quarter. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of NIKE by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors increased its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 during the last quarter. Norges Bank bought a new stake in shares of NIKE in the 4th quarter worth about $1,315,097,000. Finally, Fisher Asset Management LLC increased its position in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after purchasing an additional 219,091 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

About NIKE

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.