NIKE (NYSE:NKE) Given New $66.00 Price Target at UBS Group

NIKE (NYSE:NKE) had its price target trimmed by UBS Group from $73.00 to $66.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the footwear maker’s stock.

Several other equities analysts have also issued reports on NKE. Evercore ISI decreased their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. China Renaissance began coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a “hold” rating for the company. Needham & Company LLC reduced their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Truist Financial reduced their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday. Finally, Morgan Stanley reduced their target price on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Performance

Shares of NIKE stock opened at $68.02 on Friday. The firm has a fifty day moving average of $74.70 and a two-hundred day moving average of $77.40. The stock has a market capitalization of $100.60 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02. NIKE has a 52 week low of $65.17 and a 52 week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $11.02 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm’s revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts predict that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Range Financial Group LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE during the fourth quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC increased its holdings in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is owned by institutional investors.

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.