NIKE (NYSE:NKE) Price Target Cut to $66.00 by Analysts at UBS Group

NIKE (NYSE:NKE) had its price objective cut by UBS Group from $73.00 to $66.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the footwear maker’s stock.

NKE has been the subject of a number of other reports. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Needham & Company LLC cut their target price on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, BMO Capital Markets cut their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Performance

Shares of NYSE NKE opened at $68.02 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $74.70 and a 200-day simple moving average of $77.46. The company has a market cap of $100.60 billion, a PE ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE has a 12-month low of $65.17 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts forecast that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NIKE

Large investors have recently bought and sold shares of the business. Teachers Insurance & Annuity Association of America bought a new stake in NIKE in the third quarter worth $30,000. Caitlin John LLC boosted its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC bought a new stake in NIKE in the fourth quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.