NIKE (NYSE:NKE) Given New $73.00 Price Target at UBS Group

NIKE (NYSE:NKE) had its price target lowered by UBS Group from $80.00 to $73.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the footwear maker’s stock.

Other research analysts have also issued reports about the company. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $80.00 in a research report on Friday. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial decreased their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. Finally, TD Cowen lowered their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Down 0.2 %

Shares of NYSE NKE opened at $76.94 on Friday. NIKE has a 12-month low of $70.75 and a 12-month high of $123.30. The firm’s 50-day simple moving average is $78.07 and its 200 day simple moving average is $80.55. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $115.36 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the business earned $1.03 earnings per share. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. On average, research analysts expect that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change 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 dividend yield of 2.08%. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P raised its holdings in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares in the last quarter. State Street Corp raised its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Holocene Advisors LP acquired a new position in NIKE during the third quarter worth about $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $144,927,000. Finally, Renaissance Technologies LLC grew its holdings in shares of NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during 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.