NIKE (NYSE:NKE) Price Target Cut to $100.00 by Analysts at Telsey Advisory Group

NIKE (NYSE:NKE) had its price target lowered by Telsey Advisory Group from $115.00 to $100.00 in a report published on Friday, MarketBeat Ratings reports. The firm currently has an outperform rating on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Stifel Nicolaus reiterated a hold rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a research note on Friday. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a hold rating for the company in a research report on Friday, March 22nd. Citigroup lowered their target price on NIKE from $135.00 to $125.00 and set a buy rating for the company in a research report on Thursday, March 14th. Bank of America raised NIKE from a neutral rating to a buy rating and raised their target price for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Finally, TD Cowen lowered their target price on NIKE from $89.00 to $75.00 and set a hold rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of Hold and an average target price of $98.96.

NIKE Stock Down 20.0 %

Shares of NKE opened at $75.36 on Friday. NIKE has a 52 week low of $74.55 and a 52 week high of $123.39. The stock has a market capitalization of $113.75 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a fifty day moving average of $93.28 and a 200-day moving average of $99.15.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $12.86 billion. During the same period in the prior year, the company earned $0.66 EPS. 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 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company 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 $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 in the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several hedge funds have recently modified their holdings of NKE. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $33,000. 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.