NIKE (NYSE:NKE) PT Lowered to $110.00 at Guggenheim

NIKE (NYSE:NKE) had its target price trimmed by Guggenheim from $115.00 to $110.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

NKE has been the topic of several other reports. TD Cowen upped their price target on shares of NIKE from $71.00 to $78.00 and gave the company a hold rating in a research note on Wednesday. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research note on Wednesday. Robert W. Baird upped their price target on shares of NIKE from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $80.00 to $77.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, HSBC decreased their price target on shares of NIKE from $100.00 to $90.00 and set a hold rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has an average rating of Moderate Buy and a consensus target price of $96.04.

NIKE Price Performance

NYSE:NKE opened at $82.26 on Wednesday. NIKE has a one year low of $70.75 and a one year high of $123.39. The company has a market cap of $124.15 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. The firm’s fifty day moving average price is $80.90 and its two-hundred day moving average price is $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts expect that NIKE will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

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

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the business. Annapolis Financial Services LLC lifted 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 valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC lifted its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new position in NIKE during the 4th quarter valued at $38,000. Institutional investors and hedge funds 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.