NIKE (NYSE:NKE) Given New $100.00 Price Target at BMO Capital Markets

NIKE (NYSE:NKE) had its price target trimmed by BMO Capital Markets from $118.00 to $100.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the footwear maker’s stock.

Other analysts have also issued research reports about the stock. Robert W. Baird decreased their target price on shares of NIKE from $125.00 to $100.00 and set an outperform rating on the stock in a report on Friday. Morgan Stanley reaffirmed an equal weight rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a report on Friday. Jefferies Financial Group decreased their target price on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a report on Friday, March 22nd. Williams Trading reissued a sell rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $115.00 price target on shares of NIKE in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of Hold and a consensus price target of $98.96.

NIKE Stock Performance

Shares of NKE stock opened at $75.36 on Friday. The firm’s 50 day moving average is $93.28 and its 200 day moving average is $99.15. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock 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. NIKE has a 12 month low of $74.55 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business 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 42.87%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, sell-side analysts anticipate that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated 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 of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of NIKE 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 sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently modified their holdings of the stock. NBW Capital LLC boosted its stake in shares of NIKE by 0.9% during the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after purchasing an additional 431 shares in the last quarter. IMS Capital Management boosted its stake in shares of NIKE by 2.7% during the 1st quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after purchasing an additional 589 shares in the last quarter. American Trust boosted its stake in shares of NIKE by 9.5% during the 1st quarter. American Trust now owns 44,107 shares of the footwear maker’s stock valued at $4,145,000 after purchasing an additional 3,833 shares in the last quarter. Portland Hill Asset Management Ltd bought a new stake in shares of NIKE during the 1st quarter valued at about $958,000. Finally, Soltis Investment Advisors LLC boosted its stake in shares of NIKE by 62.6% during the 1st quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after purchasing an additional 10,958 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

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.