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

NIKE (NYSE:NKE) had its price objective reduced by Evercore ISI from $110.00 to $105.00 in a research note issued to investors on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the footwear maker’s stock.

A number of other research firms also recently commented on NKE. Bank of America raised shares of NIKE from a neutral rating to a buy rating and lifted their target price for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Robert W. Baird reduced their price objective on NIKE from $125.00 to $100.00 and set an outperform rating for the company in a research report on Friday. Wedbush reissued an outperform rating and issued a $115.00 target price on shares of NIKE in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $115.00 price target on shares of NIKE in a research report on Thursday, June 13th. Finally, Jefferies Financial Group dropped their price objective on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $98.96.

NIKE Trading Down 20.0 %

Shares of NYSE:NKE opened at $75.37 on Friday. NIKE has a 1 year low of $74.55 and a 1 year high of $123.39. The stock’s fifty day moving average price is $93.28 and its 200-day moving average price is $98.85. The company has a market cap of $113.76 billion, a P/E ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last posted its 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 net margin of 11.10% and a return on equity of 42.87%. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts expect 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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity

In related 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 sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBW Capital LLC grew its holdings in NIKE by 0.9% during the 1st quarter. NBW Capital LLC now owns 47,539 shares of the footwear maker’s stock valued at $4,468,000 after purchasing an additional 431 shares during the last quarter. IMS Capital Management grew its stake in shares of NIKE by 2.7% during the first quarter. IMS Capital Management now owns 22,638 shares of the footwear maker’s stock valued at $2,127,000 after buying an additional 589 shares during the last quarter. American Trust raised its holdings in shares of NIKE by 9.5% in the first quarter. American Trust now owns 44,107 shares of the footwear maker’s stock worth $4,145,000 after buying an additional 3,833 shares during the period. Portland Hill Asset Management Ltd bought a new stake in shares of NIKE during the 1st quarter worth approximately $958,000. Finally, Soltis Investment Advisors LLC boosted its holdings in NIKE by 62.6% during the 1st quarter. Soltis Investment Advisors LLC now owns 28,468 shares of the footwear maker’s stock valued at $2,675,000 after acquiring an additional 10,958 shares during the period. Hedge funds and other 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.