NIKE (NYSE:NKE) Price Target Lowered to $82.00 at Truist Financial

NIKE (NYSE:NKE) had its price target decreased by Truist Financial from $90.00 to $82.00 in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the footwear maker’s stock.

A number of other analysts have also commented on NKE. Morgan Stanley lowered their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday. Robert W. Baird lowered their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. lowered their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Performance

Shares of NYSE:NKE opened at $68.02 on Friday. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04. The firm has a market cap of $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business has a fifty day moving average of $74.70 and a 200-day moving average of $77.46.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter worth approximately $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE during the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in 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.