NIKE (NYSE:NKE) Price Target Cut to $76.00 by Analysts at The Goldman Sachs Group

by · The Markets Daily

NIKE (NYSE:NKE – Free Report) had its target price trimmed by The Goldman Sachs Group from $77.00 to $76.00 in a report published on Thursday,MarketScreener reports. They currently have a buy rating on the footwear maker’s stock.

Several other research firms have also recently commented on NKE. Stifel Nicolaus set a $65.00 target price on shares of NIKE and gave the company a “hold” rating in a research note on Friday, December 19th. KeyCorp dropped their price target on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. BTIG Research reiterated a “buy” rating and issued a $100.00 target price on shares of NIKE in a report on Tuesday. Bank of America reduced their target price on shares of NIKE from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Finally, Guggenheim reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday, December 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.61.

Check Out Our Latest Stock Report on NKE

NIKE Stock Down 1.2%

NYSE NKE traded down $0.76 during trading on Thursday, reaching $61.84. 14,299,666 shares of the company’s stock were exchanged, compared to its average volume of 15,443,382. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company’s fifty day simple moving average is $63.96 and its 200-day simple moving average is $68.69. The firm has a market capitalization of $91.55 billion, a PE ratio of 36.38, a P/E/G ratio of 3.20 and a beta of 1.28.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that NIKE will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is currently 96.47%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares in the company, valued at $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy D. Cook purchased 50,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the purchase, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 91,229 shares of company stock worth $5,452,640. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mascoma Wealth Management LLC purchased a new position in NIKE during the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $31,000. Guerra Advisors Inc purchased a new position in shares of NIKE in the 3rd quarter worth approximately $34,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of NIKE in the third quarter valued at approximately $35,000. Finally, Accredited Wealth Management LLC increased its position in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 376 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

(Get Free Report)

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

Further Reading