NIKE (NYSE:NKE) Price Target Cut to $92.00 by Analysts at BMO Capital Markets

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

NKE has been the topic of a number of other research reports. Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, December 20th. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and boosted their price objective for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Guggenheim reaffirmed a "buy" rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Piper Sandler raised shares of NIKE from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.38.

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NIKE Trading Down 1.1 %

Shares of NYSE:NKE traded down $0.75 during midday trading on Friday, hitting $66.64. 17,361,134 shares of the stock were exchanged, compared to its average volume of 12,400,387. The stock has a market capitalization of $98.57 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE has a 12 month low of $65.17 and a 12 month high of $98.04. The business's 50-day moving average price is $74.52 and its 200 day moving average price is $77.21. 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 - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Analysts predict that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Several hedge funds have recently made changes to their positions in the company. JNBA Financial Advisors increased its stake in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after buying an additional 131 shares during the period. Frisch Financial Group Inc. lifted its position in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker's stock worth $269,000 after acquiring an additional 136 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after acquiring an additional 136 shares during the period. Elgethun Capital Management boosted its stake in shares of NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock worth $1,136,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors 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.