NIKE (NYSE:NKE) Price Target Cut to $77.00

NIKE (NYSE:NKE) had its target price cut by JPMorgan Chase & Co. from $80.00 to $77.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the footwear maker’s stock.

Several other equities analysts have also recently weighed in on the company. Truist Financial lowered their target price on NIKE from $85.00 to $83.00 and set a hold rating on the stock in a research note on Wednesday. Williams Trading raised NIKE from a sell rating to a buy rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an outperform rating for the company in a research note on Friday, June 28th. Morgan Stanley boosted their price target on NIKE from $79.00 to $82.00 and gave the company an equal weight rating in a research note on Wednesday, September 25th. Finally, Oppenheimer reissued an outperform rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of Moderate Buy and a consensus price target of $96.04.

NIKE Price Performance

NYSE NKE opened at $82.25 on Wednesday. The stock’s 50-day moving average price is $80.90 and its two-hundred day moving average price is $86.15. 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 company has a market cap of $124.14 billion, a PE ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts predict that NIKE will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the company. Kampmann Melissa S. lifted its stake in NIKE by 0.8% in the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC grew its stake in NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares in the last quarter. Condor Capital Management grew its stake in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares in the last quarter. Bell Investment Advisors Inc grew its stake in NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares in the last quarter. Finally, Lodestone Wealth Management LLC boosted its stake in shares of NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after acquiring an additional 118 shares during the period. Institutional investors own 64.25% of the company’s stock.

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.