NIKE (NYSE:NKE) PT Lowered to $109.00 at Sanford C. Bernstein

NIKE (NYSE:NKE) had its price target trimmed by Sanford C. Bernstein from $112.00 to $109.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the footwear maker’s stock.

Several other brokerages have also commented on NKE. UBS Group restated a neutral rating and issued a $78.00 price objective on shares of NIKE in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $115.00 to $92.00 and set a buy rating for the company in a report on Wednesday, July 3rd. Citigroup decreased their price objective on shares of NIKE from $115.00 to $102.00 and set a buy rating for the company in a report on Friday, June 28th. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating for the company in a report on Friday, June 28th. Finally, Jefferies Financial Group decreased their price target on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $96.15.

NIKE Trading Up 6.8 %

NYSE:NKE opened at $86.52 on Thursday. The company has a fifty day moving average of $78.11 and a 200 day moving average of $87.06. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $130.59 billion, a P/E ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts predict that NIKE will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Annapolis Financial Services LLC lifted its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC lifted its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in NIKE during the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. lifted its holdings in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new position in NIKE during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.