NIKE (NYSE:NKE) Price Target Lowered to $105.00 at Evercore ISI

NIKE (NYSE:NKE) had its target price reduced by Evercore ISI from $110.00 to $105.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

Several other research analysts also recently issued reports on the company. Stifel Nicolaus cut their price objective on NIKE from $129.00 to $117.00 and set a buy rating for the company in a research report on Friday, March 22nd. The Goldman Sachs Group cut their price target on NIKE from $135.00 to $120.00 and set a buy rating for the company in a report on Friday, March 22nd. Telsey Advisory Group reaffirmed an outperform rating and set a $115.00 price objective on shares of NIKE in a research note on Friday, June 21st. Sanford C. Bernstein cut their target price on shares of NIKE from $134.00 to $120.00 and set an outperform rating for the company in a research note on Friday, March 22nd. Finally, Wedbush restated an outperform rating and issued a $115.00 target price on shares of NIKE in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $98.96.

NIKE Stock Up 1.9 %

NIKE stock opened at $76.83 on Friday. NIKE has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The firm has a market capitalization of $115.96 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The stock’s fifty day moving average is $93.28 and its two-hundred day moving average is $98.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. Analysts predict that NIKE will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Activity

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sherbrooke Park Advisers LLC acquired a new position in NIKE in the third quarter worth $432,000. United Services Automobile Association boosted its holdings in shares of NIKE by 18.1% in the 3rd quarter. United Services Automobile Association now owns 33,626 shares of the footwear maker’s stock valued at $3,215,000 after buying an additional 5,165 shares during the period. Kidder Stephen W grew its position in shares of NIKE by 5.3% during the 3rd quarter. Kidder Stephen W now owns 36,552 shares of the footwear maker’s stock valued at $3,495,000 after buying an additional 1,850 shares during the last quarter. Gateway Advisory LLC acquired a new stake in NIKE during the third quarter worth about $583,000. Finally, Quadrature Capital Ltd lifted its holdings in NIKE by 80.9% in the third quarter. Quadrature Capital Ltd now owns 1,066,172 shares of the footwear maker’s stock worth $101,969,000 after acquiring an additional 476,837 shares during the last quarter. Institutional investors and hedge funds 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.