Morgan Stanley Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price target trimmed by Morgan Stanley from $82.00 to $80.00 in a research note published on Friday,Benzinga reports. The firm currently has an equal weight rating on the footwear maker’s stock.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Robert W. Baird boosted their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.04.

NIKE Price Performance

NYSE:NKE opened at $77.25 on Friday. The stock has a 50 day moving average of $78.52 and a two-hundred day moving average of $81.06. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market cap of $115.83 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. On average, analysts expect that NIKE will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

Institutional Trading of NIKE

Hedge funds have recently added to or reduced their stakes in the business. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the third quarter worth about $30,000. VitalStone Financial LLC increased its position in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in NIKE during the second quarter worth approximately $44,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE in the third quarter worth $52,000. 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.