NIKE (NYSE:NKE) Given New $73.00 Price Target at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its price objective cut by JPMorgan Chase & Co. from $77.00 to $73.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the footwear maker’s stock.

NKE has been the topic of a number of other research reports. Guggenheim cut their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Telsey Advisory Group dropped their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.71.

NIKE Trading Up 0.9 %

NYSE NKE opened at $79.09 on Monday. The firm has a market cap of $118.58 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a 50-day moving average of $80.18 and a 200-day moving average of $82.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 42.41%.

Institutional Trading of NIKE

Several institutional investors have recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter valued at $30,000. VitalStone Financial LLC grew its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC grew its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in NIKE during the second quarter valued at approximately $44,000. 64.25% of the stock is currently owned by hedge funds and other 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.