NIKE (NYSE:NKE) Price Target Cut to $80.00 by Analysts at Needham & Company LLC

NIKE (NYSE:NKE) had its price target cut by Needham & Company LLC from $84.00 to $80.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

NKE has been the subject of several other reports. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. BMO Capital Markets upped their target price on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Barclays dropped their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.54.

NIKE Trading Up 3.0 %

Shares of NKE stock opened at $73.78 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE has a 1 year low of $68.62 and a 1 year high of $101.92. The stock has a fifty day moving average of $74.71 and a two-hundred day moving average of $77.71. The firm has a market capitalization of $109.13 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. As a group, research analysts expect that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. NIKE’s dividend payout ratio is currently 49.38%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NKE. OneDigital Investment Advisors LLC lifted its holdings in shares of NIKE by 7.8% in the third quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock valued at $1,484,000 after purchasing an additional 1,217 shares in the last quarter. Empowered Funds LLC increased its position in shares of NIKE by 10.7% in the third quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock valued at $2,052,000 after acquiring an additional 2,243 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of NIKE by 4.5% in the third quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after acquiring an additional 2,843 shares during the last quarter. TrinityPoint Wealth LLC increased its position in shares of NIKE by 9.2% in the third quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock valued at $2,525,000 after acquiring an additional 2,408 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its position in shares of NIKE by 42.0% in the third quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 2,544 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.