NIKE (NYSE:NKE) Price Target Cut to $90.00 by Analysts at Truist Financial

NIKE (NYSE:NKE) had its price target decreased by Truist Financial from $97.00 to $90.00 in a report issued on Friday,Benzinga reports. Truist Financial currently has a buy rating on the footwear maker’s stock.

A number of other analysts have also recently commented on NKE. Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the company from $93.00 to $80.00 in a report on Friday. Finally, UBS Group decreased their price target on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Trading Down 0.2 %

NKE opened at $76.94 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a one year low of $70.75 and a one year high of $123.30. The company has a market cap of $115.36 billion, a P/E ratio of 22.05, a PEG ratio of 1.89 and a beta of 1.02. The business’s 50-day simple moving average is $78.07 and its 200-day simple moving average is $80.65.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts expect that NIKE will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

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

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Denver PWM LLC lifted its holdings in NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after purchasing an additional 227 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after buying an additional 41,752 shares during the period. Soltis Investment Advisors LLC grew its stake in NIKE by 12.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after acquiring an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in NIKE by 8.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after acquiring an additional 20,043 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of NIKE by 59.9% during the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after purchasing an additional 395,434 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.