Morgan Stanley Lowers NIKE (NYSE:NKE) Price Target to $70.00

NIKE (NYSE:NKE) had its price target decreased by Morgan Stanley from $72.00 to $70.00 in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the footwear maker’s stock.

A number of other research firms have also recently weighed in on NKE. Bank of America dropped their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. UBS Group reiterated a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Price Performance

Shares of NKE stock opened at $68.02 on Friday. NIKE has a 12 month low of $65.17 and a 12 month high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $74.70 and a two-hundred day moving average of $77.40. The company has a market capitalization of $100.60 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the firm posted $0.98 EPS. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts expect that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE during the third quarter worth $30,000. Caitlin John LLC grew its holdings in 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 acquiring an additional 200 shares during the period. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth about $28,000. Roxbury Financial LLC bought a new position in shares of NIKE during the 4th quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA boosted its position 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. 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.