NIKE (NYSE:NKE) Price Target Cut to $90.00 by Analysts at HSBC

NIKE (NYSE:NKE) had its target price decreased by HSBC from $100.00 to $90.00 in a report published on Friday, Benzinga reports. HSBC currently has a hold rating on the footwear maker’s stock.

Several other research firms have also weighed in on NKE. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research note on Friday. Williams Trading reaffirmed a sell rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. StockNews.com lowered NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. reiterated a neutral rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday. Two 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’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of Hold and an average price target of $98.96.

NIKE Stock Down 20.0 %

Shares of NYSE:NKE opened at $75.36 on Friday. The stock’s 50-day moving average price is $93.28 and its two-hundred day moving average price 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. NIKE has a 12-month low of $74.55 and a 12-month high of $123.39. The firm has a market cap of $113.75 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (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 return on equity of 42.87% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. On average, research analysts forecast that NIKE will post 3.9 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’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 transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of the company’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 transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred 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 directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. In the last ninety 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cim LLC bought a new position in NIKE during the 4th quarter worth $14,275,000. TKG Advisors LLC bought a new position in NIKE during the 4th quarter worth $1,012,000. Louisiana State Employees Retirement System bought a new position in NIKE during the 4th quarter worth $8,034,000. Financial Gravity Asset Management Inc. grew its stake in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after buying an additional 192,752 shares during the last quarter. 64.25% of the stock is currently owned by 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.