NIKE (NYSE:NKE) Given New $70.00 Price Target at Barclays

NIKE (NYSE:NKE) had its price objective reduced by Barclays from $79.00 to $70.00 in a research report report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the footwear maker’s stock.

NKE has been the subject of several other research reports. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $93.00 to $80.00 in a report on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Performance

NIKE stock opened at $76.94 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE has a 12-month low of $70.75 and a 12-month high of $123.30. The firm’s fifty day moving average price is $78.07 and its 200 day moving average price is $80.65. The company has a market capitalization of $115.36 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. On average, research analysts forecast that NIKE will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. 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 yield of 2.08%. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Institutional Investors Weigh In On NIKE

Hedge funds have recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter worth about $30,000. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% during the third 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 last quarter. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of NIKE in the second quarter worth $48,000. Finally, Ecofi Investissements SA bought a new position in NIKE during the second quarter worth $49,000. 64.25% of the stock is currently owned by institutional investors.

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.