HSBC Lowers NIKE (NYSE:NKE) Price Target to $90.00

NIKE (NYSE:NKE) had its target price decreased by HSBC from $100.00 to $90.00 in a research note issued to investors on Friday, Benzinga reports. HSBC currently has a hold rating on the footwear maker’s stock.

NKE has been the topic of a number of other reports. Wells Fargo & Company decreased their target price on NIKE from $120.00 to $115.00 and set an overweight rating on the stock in a report on Monday, June 10th. The Goldman Sachs Group reduced their price objective on NIKE from $118.00 to $105.00 and set a buy rating for the company in a research report on Friday. Citigroup reduced their price target on NIKE from $135.00 to $125.00 and set a buy rating for the company in a research report on Thursday, March 14th. Morgan Stanley reiterated an equal weight rating and issued a $79.00 price objective (down from $114.00) on shares of NIKE in a research note on Friday. Finally, Wedbush dropped their price objective on NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of Hold and a consensus price target of $98.96.

NIKE Stock Down 20.0 %

NKE opened at $75.37 on Friday. NIKE has a 12 month low of $74.55 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market cap of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05. The stock’s 50 day moving average price is $93.28 and its 200 day moving average price is $98.85.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts predict that NIKE will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is 39.68%.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the company’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 sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NIKE

A number of large investors have recently made changes to their positions in the company. Annapolis Financial Services LLC raised its stake 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 during the period. Iron Horse Wealth Management LLC raised its stake in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE in the 4th quarter valued at about $29,000. True Wealth Design LLC raised its stake in shares of NIKE by 106.4% in the 4th 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. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $33,000. Institutional investors own 64.25% of the company’s stock.

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.