NIKE (NYSE:NKE) Price Target Cut to $73.00 by Analysts at Williams Trading

NIKE (NYSE:NKE - Free Report) had its target price decreased by Williams Trading from $93.00 to $73.00 in a report published on Monday morning,Benzinga reports. Williams Trading currently has a buy rating on the footwear maker's stock.

Several other research firms have also issued reports on NKE. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. DA Davidson raised shares of NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Truist Financial lowered their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Finally, BMO Capital Markets decreased their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $83.19.

NIKE Price Performance

Shares of NKE traded up $1.14 during trading hours on Monday, hitting $58.53. The stock had a trading volume of 14,425,432 shares, compared to its average volume of 14,345,989. The stock has a market capitalization of $86.57 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company's fifty day moving average is $67.44 and its two-hundred day moving average is $73.33. NIKE has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. 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 firm earned $0.98 earnings per share. On average, analysts anticipate that NIKE will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.73%. NIKE's dividend payout ratio is 53.16%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The stock was 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 in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently modified their holdings of NKE. JNBA Financial Advisors boosted its stake in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after acquiring an additional 131 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management grew its holdings in NIKE by 13.7% during the 4th 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. GAMMA Investing LLC raised its position in shares of NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after buying an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC lifted its holdings in shares of NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock worth $114,000 after buying an additional 150 shares in the last quarter. 64.25% of the stock is currently 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.