NIKE (NYSE:NKE) Given New $116.00 Price Target at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its target price trimmed by JPMorgan Chase & Co. from $122.00 to $116.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the footwear maker’s stock.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley cut their target price on NIKE from $116.00 to $114.00 and set an overweight rating for the company in a research note on Monday. Jefferies Financial Group dropped their price objective on NIKE from $110.00 to $100.00 and set a hold rating for the company in a research note on Friday, March 22nd. Bank of America raised NIKE from a neutral rating to a buy rating and raised their price objective for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Telsey Advisory Group dropped their price objective on NIKE from $140.00 to $120.00 and set an outperform rating for the company in a research note on Monday, March 18th. Finally, Wedbush reaffirmed an outperform rating and issued a $115.00 price objective on shares of NIKE in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $114.63.

NIKE Stock Performance

Shares of NKE stock opened at $95.55 on Thursday. The company has a market cap of $144.22 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The stock has a 50 day simple moving average of $93.50 and a 200-day simple moving average of $100.14. NIKE has a 12-month low of $88.66 and a 12-month high of $123.39. 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 (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities analysts forecast that NIKE will post 3.76 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. 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 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 acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. purchased 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 during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $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.