NIKE (NYSE:NKE) Price Target Cut to $81.00 by Analysts at Truist Financial

NIKE (NYSE:NKE) had its price objective trimmed by Truist Financial from $99.00 to $81.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a hold rating on the footwear maker’s stock.

A number of other research firms have also weighed in on NKE. Sanford C. Bernstein reduced their price objective on shares of NIKE from $134.00 to $120.00 and set an outperform rating on the stock in a research report on Friday, March 22nd. StockNews.com downgraded NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Robert W. Baird decreased their price target on NIKE from $125.00 to $100.00 and set an outperform rating for the company in a research note on Friday. Evercore ISI cut their price objective on NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research report on Friday. Finally, Telsey Advisory Group reduced their target price on NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $98.96.

NIKE Stock Performance

NYSE NKE opened at $75.37 on Friday. The business’s 50 day moving average price is $93.28 and its 200-day moving average price is $98.85. NIKE has a fifty-two week low of $74.55 and a fifty-two week high of $123.39. The company has a market cap of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that NIKE will post 3.9 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several large investors have recently added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its holdings in shares of NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after purchasing an additional 100 shares during the period. Physicians Financial Services Inc. raised its position in NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its stake in NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after acquiring an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of NIKE by 0.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after acquiring an additional 100 shares during the last quarter. Finally, Claro Advisors LLC increased its stake in shares of NIKE by 0.8% in the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after acquiring an additional 101 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.