JPMorgan Chase & Co. Lowers NIKE (NYSE:NKE) Price Target to $80.00

NIKE (NYSE:NKE) had its price objective decreased by JPMorgan Chase & Co. from $83.00 to $80.00 in a research note released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the footwear maker’s stock.

Several other brokerages have also issued reports on NKE. Robert W. Baird lifted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an outperform rating in a research report on Friday, September 20th. The Goldman Sachs Group reduced their target price on shares of NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research note on Friday, June 28th. TD Cowen reduced their target price on shares of NIKE from $75.00 to $71.00 and set a hold rating on the stock in a research note on Thursday, July 25th. Oppenheimer reaffirmed an outperform rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Finally, Truist Financial lifted their target price on shares of NIKE from $81.00 to $85.00 and gave the stock a hold rating in a research note on Friday, September 20th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $96.52.

NIKE Trading Up 1.6 %

Shares of NIKE stock opened at $89.39 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a fifty day moving average price of $79.00 and a 200 day moving average price of $86.83. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market cap of $134.92 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.66 earnings per share. Equities research analysts predict that NIKE will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity

In other 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 value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the business. Annapolis Financial Services LLC raised its position 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 purchasing an additional 220 shares during the last quarter. True Wealth Design LLC raised its position in 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 last quarter. Frank Rimerman Advisors LLC purchased a new position in NIKE during the 4th quarter worth $33,000. Core Wealth Advisors Inc. raised its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new position in NIKE during the 4th quarter worth $36,000. Hedge funds and other 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.