NIKE (NYSE:NKE) Price Target Cut to $116.00 by Analysts at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its price objective reduced by JPMorgan Chase & Co. from $122.00 to $116.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the footwear maker’s stock.

A number of other equities analysts have also issued reports on NKE. Evercore ISI decreased their price target on NIKE from $127.00 to $117.00 and set an outperform rating for the company in a research note on Friday, March 22nd. 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. Barclays cut their price objective on NIKE from $142.00 to $114.00 and set an overweight rating for the company in a research report on Monday, March 25th. StockNews.com upgraded NIKE from a hold rating to a buy rating in a research report on Thursday, June 13th. Finally, Telsey Advisory Group cut their price objective on NIKE from $140.00 to $120.00 and set an outperform rating for the company in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $114.81.

NIKE Stock Up 1.7 %

Shares of NIKE stock opened at $97.18 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $93.60 and a 200 day moving average price of $99.79. NIKE has a fifty-two week low of $88.66 and a fifty-two week high of $123.39. The firm has a market cap of $146.68 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.80 and a beta of 1.05.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts forecast that NIKE will post 3.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is 43.53%.

Insider Activity

In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a 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 business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC lifted its position in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the 4th quarter worth about $29,000. True Wealth Design LLC lifted its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Finally, Core Wealth Advisors Inc. raised its holdings in shares of NIKE by 408.5% in the 4th 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 during the period. 64.25% of the stock is owned by 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.