NIKE (NYSE:NKE) Price Target Cut to $105.00 by Analysts at Evercore ISI

NIKE (NYSE:NKE) had its price objective lowered by Evercore ISI from $110.00 to $105.00 in a research report released on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the footwear maker’s stock.

NKE has been the topic of a number of other reports. Morgan Stanley lowered their price target on NIKE from $116.00 to $114.00 and set an overweight rating on the stock in a report on Monday, June 17th. Robert W. Baird lowered their target price on shares of NIKE from $125.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Stifel Nicolaus dropped their price target on shares of NIKE from $129.00 to $117.00 and set a buy rating on the stock in a research report on Friday, March 22nd. StockNews.com cut shares of NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Finally, The Goldman Sachs Group dropped their target price on NIKE from $135.00 to $120.00 and set a buy rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $98.96.

NIKE Trading Down 20.0 %

NIKE stock opened at $75.36 on Friday. The firm has a 50-day moving average price of $93.28 and a two-hundred day moving average price of $99.15. NIKE has a 52-week low of $74.55 and a 52-week high of $123.39. The firm 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 quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (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 business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently modified their holdings of NKE. NBW Capital LLC increased its position in NIKE by 0.9% in the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock worth $4,468,000 after purchasing an additional 431 shares during the last quarter. IMS Capital Management increased its holdings in NIKE by 2.7% in the first quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock worth $2,127,000 after buying an additional 589 shares during the last quarter. American Trust raised its position in NIKE by 9.5% during the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock valued at $4,145,000 after acquiring an additional 3,833 shares in the last quarter. Portland Hill Asset Management Ltd acquired a new stake in NIKE in the first quarter valued at approximately $958,000. Finally, Soltis Investment Advisors LLC grew its position in NIKE by 62.6% in the first quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock worth $2,675,000 after acquiring an additional 10,958 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.