NIKE (NYSE:NKE) Given New $70.00 Price Target at Barclays

NIKE (NYSE:NKE) had its price objective lowered by Barclays from $79.00 to $70.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the footwear maker’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $93.00 to $80.00 in a report on Friday. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Stock Performance

Shares of NYSE:NKE opened at $76.94 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business’s fifty day moving average price is $78.07 and its two-hundred day moving average price is $80.65. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.30. The stock has a market capitalization of $115.36 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. As a group, analysts predict that NIKE will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Tempus Wealth Planning LLC raised its stake in NIKE by 9.6% during the second quarter. Tempus Wealth Planning LLC now owns 3,969 shares of the footwear maker’s stock worth $299,000 after acquiring an additional 347 shares in the last quarter. AMG National Trust Bank boosted its position in NIKE by 55.6% in the second quarter. AMG National Trust Bank now owns 22,416 shares of the footwear maker’s stock valued at $1,689,000 after buying an additional 8,012 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of NIKE by 39.8% during the second quarter. Capital Advisors Ltd. LLC now owns 3,386 shares of the footwear maker’s stock worth $255,000 after buying an additional 964 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of NIKE during the second quarter worth $1,849,000. Finally, Patten Group Inc. boosted its holdings in shares of NIKE by 7.2% during the 2nd quarter. Patten Group Inc. now owns 9,330 shares of the footwear maker’s stock valued at $703,000 after acquiring an additional 623 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.