NIKE (NYSE:NKE) had its price target cut to $79.00 by analysts at Stifel Nicolaus

NIKE (NYSE:NKE – Free Report) Their target price was lowered by Stifel Nicolaus from $88.00 to $79.00 in a report on Monday, Benzinga reports. They currently have a hold rating on the footwear maker’s stock.

Other equities analysts have recently issued research reports on the stock. StockNews.com lowered shares of NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Guggenheim cut their price target on NIKE from $130.00 to $115.00 and set a buy rating on the stock in a report on Friday, June 28th. TD Cowen reduced their price objective on NIKE from $75.00 to $71.00 and set a hold rating for the company in a report on Thursday, July 25th. Robert W. Baird cut their price target on NIKE from $125.00 to $100.00 and set an outperform rating on the stock in a report on Friday, June 28th. Finally, Barclays cut shares of NIKE from an overweight rating to an equal weight rating and cut their price target for the company from $109.00 to $80.00 in a research note on Friday , June 28. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. NIKE currently has an average rating of Moderate Buy and a consensus price target of $95.59, according to MarketBeat.com.

See the latest stock analysis on NKE

NIKE trading up 0.3%

NKE stock opened at $84.27 on Monday. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69, and a current ratio of 2.40. The stock has a 50-day simple moving average of $78.86 and a two-hundred-day simple moving average of $89.99. The company has a market cap of $127.19 billion, a P/E ratio of 22.59, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE – Get Your Free Report ) last issued its 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 company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. In the same quarter last year, the company earned $0.66 EPS. research analysts predict that NIKE will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a dividend of $1.48 on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider buying and selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which is accessible via this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of shares are currently held by corporate insiders.

Institutional trading of NIKE

Institutional investors have recently modified their holdings in the business. Teachers Retirement System Of The State Of Kentucky boosted its holdings in shares of NIKE by 1.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 245,406 shares of the footwear maker’s stock worth $18,495,000 after acquiring an additional 4,615 shares during the period. Cetera Investment Advisers boosted its stake in NIKE by 6.8% in the second quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock worth $17,351,000 after buying an additional 14,584 shares during the period. Truist Financial Corp increased its holdings in NIKE by 120.1% during the 2nd quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker’s stock valued at $107,826,000 after buying an additional 780,507 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of NIKE by 37.8% in the second quarter. EP Wealth Advisors LLC now owns 346,650 shares of the footwear maker’s stock valued at $26,127,000 after purchasing an additional 95,117 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of NIKE in the second quarter valued at about $14,468,000. 64.25% of the shares are currently held by hedge funds and other institutional investors.

About NIKE

(Get a free report)

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 brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

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