Robert W. Baird Cuts NIKE (NYSE:NKE) Price Target to $99.00

NIKE (NYSE:NKE) had its price target trimmed by Robert W. Baird from $105.00 to $99.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

NKE has been the subject of several other reports. Bank of America lowered their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Evercore ISI lowered their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Performance

Shares of NYSE:NKE opened at $68.02 on Friday. The company’s 50 day simple moving average is $74.70 and its 200 day simple moving average is $77.40. 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 has a 1 year low of $65.17 and a 1 year high of $98.04. The stock has a market capitalization of $100.60 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. As a group, research analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly 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. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Range Financial Group LLC bought a new position in NIKE in the fourth quarter worth about $642,000. Cacti Asset Management LLC bought a new position in NIKE in the fourth quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE during the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its position in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. Institutional investors own 64.25% of the company’s stock.

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.