JPMorgan Chase & Co. Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $73.00 to $64.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the footwear maker's stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reduced their price target on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. BMO Capital Markets cut their price objective on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Friday. Royal Bank of Canada lowered their target price on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and upped their price target for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Barclays decreased their price objective on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Fifteen 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 stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $87.38.

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NIKE Stock Down 1.1 %

Shares of NKE stock traded down $0.75 during trading on Friday, reaching $66.64. The company's stock had a trading volume of 17,361,134 shares, compared to its average volume of 12,400,387. NIKE has a one year low of $65.17 and a one year high of $98.04. The business has a fifty day moving average price of $74.52 and a 200-day moving average price of $77.21. The company has a market cap of $98.57 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last issued 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 firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The company's revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that NIKE will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid 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 2.40%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business's 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 owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at about $28,000. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE during the 4th quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares in the last quarter. 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.