NIKE (NYSE:NKE) Downgraded by Barclays to Equal Weight

Barclays downgraded shares of NIKE (NYSE:NKE) from an overweight rating to an equal weight rating in a report released on Friday, Marketbeat reports. They currently have $80.00 price target on the footwear maker’s stock, down from their previous price target of $109.00.

Other analysts have also issued research reports about the company. Oppenheimer reissued an outperform rating and set a $120.00 price target on shares of NIKE in a report on Friday. Bank of America raised NIKE from a neutral rating to a buy rating and boosted their price target for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Wells Fargo & Company cut their price target on NIKE from $120.00 to $115.00 and set an overweight rating for the company in a report on Monday, June 10th. UBS Group reissued a neutral rating and set a $78.00 price target on shares of NIKE in a report on Friday. Finally, The Goldman Sachs Group cut their price target on NIKE from $135.00 to $120.00 and set a buy rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $98.96.

NIKE Stock Performance

Shares of NKE opened at $75.36 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE has a one year low of $74.55 and a one year high of $123.39. The firm has a market capitalization of $113.75 billion, a P/E ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05. The business has a fifty day moving average of $93.28 and a 200 day moving average of $99.15.

NIKE (NYSE:NKE) last issued 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 return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE will post 3.9 EPS for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

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

Institutional Investors Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Norges Bank purchased a new stake in shares of NIKE in the fourth quarter worth approximately $1,315,097,000. Price T Rowe Associates Inc. MD raised its holdings in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Capital International Investors raised its holdings in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the first quarter worth approximately $533,533,000. Finally, Capital World Investors grew its stake in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. 64.25% of the stock is currently 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.