NIKE (NYSE:NKE) PT Lowered to $100.00 at Bank of America

NIKE (NYSE:NKE) had its price objective lowered by Bank of America from $104.00 to $100.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an equal weight rating in a research note on Wednesday, September 25th. UBS Group reiterated a neutral rating and set a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research note on Friday, June 28th. Evercore ISI lifted their target price on NIKE from $105.00 to $110.00 and gave the company an outperform rating in a research note on Friday, September 20th. Finally, TD Cowen dropped their target price on NIKE from $75.00 to $71.00 and set a hold rating on the stock in a report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $96.04.

NIKE Trading Up 0.2 %

NIKE stock opened at $82.26 on Wednesday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The firm’s 50 day moving average price is $80.90 and its two-hundred day moving average price is $86.24. The firm has a market cap of $124.15 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. 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 earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. On average, research analysts predict that NIKE will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently made changes to their positions in the stock. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. raised its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new position in NIKE in the fourth quarter worth $38,000. Institutional investors 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.