BMO Capital Markets Cuts NIKE (NYSE:NKE) Price Target to $92.00

NIKE (NYSE:NKE) had its price target cut by BMO Capital Markets from $95.00 to $92.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

A number of other equities research analysts also recently issued reports on NKE. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Needham & Company LLC lowered their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, UBS Group restated a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Down 5.4 %

NIKE stock opened at $68.02 on Friday. The stock’s 50 day moving average price is $74.70 and its 200 day moving average price is $77.40. NIKE has a 1-year low of $65.17 and a 1-year high of $98.04. The company has a market cap of $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, sell-side analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently bought and sold shares of the business. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter valued at $30,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC bought a new stake in NIKE in the fourth quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA raised its stake in 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 buying an additional 210 shares in the last quarter. Institutional investors and hedge funds 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.