NIKE (NYSE:NKE) Price Target Lowered to $75.00 at TD Cowen

NIKE (NYSE:NKE) had its target price decreased by TD Cowen from $89.00 to $75.00 in a report published on Friday morning, Benzinga reports. TD Cowen currently has a hold rating on the footwear maker’s stock.

Several other research firms have also recently weighed in on NKE. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $122.00 to $116.00 and set an overweight rating on the stock in a research report on Thursday, June 20th. Robert W. Baird lowered their price target on shares of NIKE from $140.00 to $125.00 and set an outperform rating for the company in a research note on Friday, March 22nd. Wells Fargo & Company lowered their price target on shares of NIKE from $120.00 to $115.00 and set an overweight rating for the company in a research note on Monday, June 10th. Barclays lowered their price target on shares of NIKE from $142.00 to $114.00 and set an overweight rating for the company in a research note on Monday, March 25th. Finally, UBS Group lowered their price target on shares of NIKE from $138.00 to $125.00 and set a buy rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of Hold and an average price target of $98.96.

NIKE Stock Performance

NIKE stock opened at $75.36 on Friday. The firm’s fifty day moving average price is $93.28 and its 200-day moving average price is $99.15. 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 market cap of $113.75 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. NIKE has a fifty-two week low of $74.55 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. On average, equities research analysts expect that NIKE will post 3.9 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business 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%.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s 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 sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were 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 in the company, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the company’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 transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its stake in shares of NIKE by 120.7% in the fourth 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. Annapolis Financial Services LLC lifted its stake in shares of NIKE by 440.0% in the first 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. Planned Solutions Inc. bought a new position in shares of NIKE in the fourth quarter worth approximately $29,000. True Wealth Design LLC lifted its stake in shares of NIKE by 106.4% in the fourth 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, Core Wealth Advisors Inc. lifted its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. 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.