NIKE (NYSE:NKE) PT Lowered to $100.00 at Telsey Advisory Group

NIKE (NYSE:NKE) had its price target decreased by Telsey Advisory Group from $115.00 to $100.00 in a research report released on Friday, MarketBeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the footwear maker’s stock.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Robert W. Baird cut their target price on NIKE from $125.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Wells Fargo & Company decreased their price target on shares of NIKE from $120.00 to $115.00 and set an overweight rating for the company in a research report on Monday, June 10th. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a buy rating on the stock in a research report on Thursday, March 14th. Finally, Barclays decreased their target price on shares of NIKE from $142.00 to $114.00 and set an overweight rating for the company in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $98.96.

NIKE Price Performance

NKE opened at $75.37 on Friday. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE has a 12-month low of $74.55 and a 12-month high of $123.39. The business’s fifty day simple moving average is $93.28 and its 200-day simple moving average is $98.85.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (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 for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction 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 completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE in the 4th quarter valued at $29,000. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth $33,000. 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.