NIKE (NYSE:NKE) Price Target Cut to $81.00 by Analysts at Truist Financial

NIKE (NYSE:NKE) had its target price lowered by Truist Financial from $99.00 to $81.00 in a research note issued to investors on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the footwear maker’s stock.

A number of other research analysts have also issued reports on the stock. Bank of America upgraded shares of NIKE from a neutral rating to a buy rating and boosted their price target for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Oppenheimer reissued an outperform rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $115.00 price target on shares of NIKE in a research report on Thursday, June 13th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE 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 given a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of Hold and an average target price of $98.96.

NIKE Stock Down 20.0 %

NKE stock 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. The company has a market cap of $113.75 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth 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. The company has a fifty day moving average price of $93.28 and a 200 day moving average price of $99.15.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. Sell-side analysts expect that NIKE will post 3.9 earnings per share for the current year.

NIKE Announces Dividend

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

Insiders Place Their Bets

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the firm’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 value of $26,406.48. Following the completion of 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 Trading of NIKE

Several hedge funds have recently made changes to their positions in NKE. Annapolis Financial Services LLC increased its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Iron Horse Wealth Management LLC increased 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 valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in shares of NIKE during the 4th quarter valued at $29,000. True Wealth Design LLC increased 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 valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NIKE during the 4th quarter valued at $33,000. 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.