Robert W. Baird Lowers NIKE (NYSE:NKE) Price Target to $105.00

NIKE (NYSE:NKE) had its price objective cut by Robert W. Baird from $110.00 to $105.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

NKE has been the subject of several other research reports. UBS Group cut their price target on NIKE from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Stifel Nicolaus dropped their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.58.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.79 on Monday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $115.14 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The firm’s 50 day moving average price is $77.87 and its 200-day moving average price is $80.18. NIKE has a twelve month low of $70.75 and a twelve month high of $109.96.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that NIKE will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Hedge Funds Weigh In On NIKE

Hedge funds have recently bought and sold shares of the business. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the third quarter worth $30,000. VitalStone Financial LLC increased its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC lifted its holdings in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in NIKE in the 2nd quarter valued at about $48,000. Finally, Ecofi Investissements SA bought a new position in NIKE in the 2nd quarter worth about $49,000. 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.