NIKE (NYSE:NKE) Given New $109.00 Price Target at Sanford C. Bernstein

NIKE (NYSE:NKE) had its price objective decreased by Sanford C. Bernstein from $112.00 to $109.00 in a research note released on Thursday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the footwear maker’s stock.

NKE has been the subject of several other reports. Wells Fargo & Company decreased their price objective on shares of NIKE from $115.00 to $92.00 and set an overweight rating for the company in a report on Friday, June 28th. Raymond James restated a market perform rating on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group reduced their target price on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. StockNews.com cut NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. Finally, Royal Bank of Canada reduced their price target on NIKE from $100.00 to $75.00 and set a sector perform rating on the stock in a research note on Tuesday, July 2nd. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of Moderate Buy and a consensus price target of $95.33.

NIKE Stock Up 0.1 %

NYSE NKE opened at $80.97 on Thursday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market capitalization of $122.21 billion, a PE ratio of 21.71, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s 50-day moving average is $77.84 and its 200 day moving average is $87.23.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that NIKE will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.83%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. 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

A number of institutional investors have recently bought and sold shares of NKE. 9258 Wealth Management LLC raised its stake in shares of NIKE by 23.9% in the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after buying an additional 842 shares during the period. Gryphon Financial Partners LLC increased its holdings in NIKE by 34.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after acquiring an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after acquiring an additional 166 shares during the period. GW&K Investment Management LLC lifted its holdings in NIKE by 26.4% during the fourth quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after purchasing an additional 126 shares in the last quarter. Finally, WBI Investments LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $1,084,000. 64.25% of the stock is owned by institutional investors.

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.