NIKE (NYSE:NKE) Given New $105.00 Price Target at The Goldman Sachs Group

NIKE (NYSE:NKE) had its price objective trimmed by The Goldman Sachs Group from $118.00 to $105.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the footwear maker’s stock.

A number of other equities analysts have also commented on the stock. Telsey Advisory Group decreased their price target on shares of NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a report on Friday. Raymond James reissued a market perform rating on shares of NIKE in a report on Friday. Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a neutral rating on the stock in a report on Friday, March 22nd. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday. Finally, KeyCorp reiterated a sector weight rating on shares of NIKE in a research report on Friday. 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, the stock currently has an average rating of Hold and a consensus price target of $98.96.

NIKE Stock Performance

NIKE stock opened at $75.36 on Friday. The firm’s 50 day simple moving average is $93.28 and its 200 day simple 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 firm has a market capitalization of $113.75 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. NIKE has a 1-year low of $74.55 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 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 42.87%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, analysts expect that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insider Activity

In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following 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 valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently bought and sold shares of NKE. Sherbrooke Park Advisers LLC bought a new stake in NIKE during the third quarter worth about $432,000. United Services Automobile Association raised its holdings in NIKE by 18.1% in the third quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock worth $3,215,000 after buying an additional 5,165 shares during the last quarter. Kidder Stephen W raised its holdings in NIKE by 5.3% in the third quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock worth $3,495,000 after buying an additional 1,850 shares during the last quarter. Gateway Advisory LLC purchased a new position in NIKE in the third quarter worth about $583,000. Finally, Quadrature Capital Ltd raised its holdings in NIKE by 80.9% in the third quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock worth $101,969,000 after buying an additional 476,837 shares during the last quarter. Institutional investors 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.