NIKE (NYSE:NKE) Price Target Cut to $100.00 by Analysts at BMO Capital Markets

NIKE (NYSE:NKE) had its price objective reduced by BMO Capital Markets from $118.00 to $100.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

A number of other equities analysts also recently commented on the stock. Truist Financial decreased their price objective on shares of NIKE from $99.00 to $81.00 and set a hold rating for the company in a report on Friday. Citigroup decreased their price objective on shares of NIKE from $135.00 to $125.00 and set a buy rating for the company in a report on Thursday, March 14th. Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $100.00 and set a hold rating for the company in a report on Friday, March 22nd. Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a neutral rating for the company in a report on Friday, March 22nd. Finally, Oppenheimer reissued an outperform rating and set a $120.00 price target on shares of NIKE in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $98.96.

NIKE Stock Up 1.9 %

Shares of NYSE:NKE opened at $76.83 on Friday. 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 fifty day simple moving average of $93.28 and a 200 day simple moving average of $98.85. The firm has a market cap of $115.96 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. NIKE has a 12-month low of $74.29 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities research analysts anticipate that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sherbrooke Park Advisers LLC acquired a new position in shares of NIKE in the 3rd quarter valued at about $432,000. United Services Automobile Association increased its holdings in shares of NIKE by 18.1% in the 3rd quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock valued at $3,215,000 after purchasing an additional 5,165 shares during the period. Kidder Stephen W increased its holdings in shares of NIKE by 5.3% in the 3rd quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock valued at $3,495,000 after purchasing an additional 1,850 shares during the period. Gateway Advisory LLC acquired a new position in shares of NIKE in the 3rd quarter valued at about $583,000. Finally, Quadrature Capital Ltd increased its holdings in shares of NIKE by 80.9% in the 3rd quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock valued at $101,969,000 after purchasing an additional 476,837 shares during the period. Institutional investors and hedge funds 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.