NIKE (NYSE:NKE) Price Target Cut to $93.00 by Analysts at Telsey Advisory Group

NIKE (NYSE:NKE) had its price target cut by Telsey Advisory Group from $96.00 to $93.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the footwear maker’s stock.

Several other brokerages have also recently commented on NKE. Morgan Stanley lowered their price target on shares of NIKE from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Bank of America lowered their price target on shares of NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Finally, Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.15.

NIKE Trading Down 0.1 %

Shares of NYSE NKE opened at $77.21 on Monday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $115.77 billion, a PE ratio of 22.12, a P/E/G ratio of 1.93 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $78.44 and a two-hundred day moving average of $80.95.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. As a group, equities analysts expect that NIKE will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is 45.85%.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC raised its position in shares of NIKE by 12.7% in the second quarter. SeaCrest Wealth Management LLC now owns 2,767 shares of the footwear maker’s stock valued at $209,000 after purchasing an additional 311 shares during the period. Summit Global Investments raised its position in shares of NIKE by 291.0% in the second quarter. Summit Global Investments now owns 18,217 shares of the footwear maker’s stock valued at $1,373,000 after purchasing an additional 13,558 shares during the period. Aaron Wealth Advisors LLC raised its position in shares of NIKE by 42.6% in the second quarter. Aaron Wealth Advisors LLC now owns 6,071 shares of the footwear maker’s stock valued at $458,000 after purchasing an additional 1,814 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of NIKE by 3.5% in the second quarter. Atria Wealth Solutions Inc. now owns 47,057 shares of the footwear maker’s stock valued at $3,561,000 after purchasing an additional 1,589 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter valued at about $46,000. 64.25% of the stock is owned by institutional investors.

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.