NIKE (NYSE:NKE) Given New $70.00 Price Target at Piper Sandler

NIKE (NYSE:NKE) had its price target lowered by Piper Sandler from $90.00 to $70.00 in a research report released on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the footwear maker’s stock.

NKE has been the subject of a number of other research reports. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Finally, Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.19.

NIKE Price Performance

NIKE stock opened at $54.44 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50 day simple moving average of $70.03 and a 200-day simple moving average of $74.83. NIKE has a 12 month low of $52.28 and a 12 month high of $98.04. The stock has a market capitalization of $80.52 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts predict that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Large investors have recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC acquired a new position in NIKE in the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA grew its stake in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE during the 4th quarter valued at approximately $30,000. 64.25% of the stock is currently owned by hedge funds and other 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.