NIKE (NYSE:NKE) Price Target Cut to $115.00 by Analysts at Guggenheim

NIKE (NYSE:NKE) had its target price trimmed by Guggenheim from $130.00 to $115.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the footwear maker’s stock.

A number of other research analysts have also recently commented on the stock. Morgan Stanley reaffirmed an equal weight rating and issued a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday. Jefferies Financial Group decreased their target price on shares of NIKE from $110.00 to $100.00 and set a hold rating on the stock in a research report on Friday, March 22nd. StockNews.com cut shares of NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Barclays cut shares of NIKE from an overweight rating to an equal weight rating and decreased their target price for the company from $109.00 to $80.00 in a research report on Friday. Finally, TD Cowen decreased their target price on shares of NIKE from $89.00 to $75.00 and set a hold rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $98.96.

NIKE Trading Up 1.9 %

Shares of NKE opened at $76.83 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 12-month low of $74.29 and a 12-month high of $123.39. The firm has a 50-day moving average price of $93.28 and a 200 day moving average price of $98.85. The firm has a market capitalization of $115.96 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that NIKE will post 3.9 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.93%. NIKE’s payout ratio is currently 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors have recently modified their holdings of NKE. Annapolis Financial Services LLC increased its holdings in shares of 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 acquiring an additional 220 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in shares of NIKE in the 4th quarter valued at $29,000. True Wealth Design LLC increased its holdings in shares of 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 acquiring an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $33,000. 64.25% of the stock is 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.