NIKE (NYSE:NKE) Given New $71.00 Price Target at TD Cowen

NIKE (NYSE:NKE) had its target price lowered by TD Cowen from $75.00 to $71.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a hold rating on the footwear maker’s stock.

Several other research firms have also issued reports on NKE. Morgan Stanley reiterated an equal weight rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets reduced their price target on shares of NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus reiterated a hold rating and set a $88.00 price target (down previously from $117.00) on shares of NIKE in a research report on Friday, June 28th. The Goldman Sachs Group reduced their price target on shares of NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research report on Friday, June 28th. Finally, Guggenheim reduced their price target on shares of NIKE from $130.00 to $115.00 and set a buy rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $96.30.

NIKE Stock Performance

Shares of NYSE:NKE opened at $72.04 on Thursday. The company’s 50 day moving average price is $85.90 and its two-hundred day moving average price is $93.96. NIKE has a 12-month low of $70.91 and a 12-month high of $123.39. The firm has a market cap of $108.73 billion, a PE ratio of 19.15, a PEG ratio of 1.85 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. Equities research analysts predict that NIKE will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders sold 323,660 shares of company stock valued at $27,973,033 over the last quarter. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently made changes to their positions in NKE. 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 acquiring an additional 140 shares in the last quarter. Annapolis Financial Services LLC increased its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the fourth quarter worth about $29,000. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Core Wealth Advisors Inc. increased its position in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds 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.