NIKE (NYSE:NKE) Price Target Cut to $75.00 by Analysts at Stifel Nicolaus

NIKE (NYSE:NKE) had its target price reduced by Stifel Nicolaus from $79.00 to $75.00 in a research report released on Friday morning,Benzinga reports. They currently have a hold rating on the footwear maker’s stock.

NKE has been the subject of several other reports. Morgan Stanley lowered their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Barclays reduced their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America cut their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a report on Friday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Trading Down 0.2 %

Shares of NKE stock opened at $76.94 on Friday. The business has a 50-day moving average of $78.07 and a 200 day moving average of $80.55. 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 1-year low of $70.75 and a 1-year high of $123.30. The stock has a market capitalization of $115.36 billion, a PE ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. NIKE’s payout ratio is presently 45.85%.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Garrison Point Advisors LLC boosted its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC lifted its position in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. boosted its stake in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other 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.