NIKE (NYSE:NKE) Given New $90.00 Price Target at Truist Financial

NIKE (NYSE:NKE - Free Report) had its target price lowered by Truist Financial from $97.00 to $90.00 in a report issued on Friday,Benzinga reports. Truist Financial currently has a buy rating on the footwear maker's stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday. UBS Group dropped their price target on NIKE from $82.00 to $80.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Daiwa America lowered NIKE from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, September 11th. Telsey Advisory Group lowered NIKE from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $93.00 to $80.00 in a research report on Friday. Finally, Bank of America reduced their target price on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $89.77.

NIKE Price Performance

Shares of NKE traded down $0.16 during midday trading on Friday, reaching $76.94. The stock had a trading volume of 49,808,547 shares, compared to its average volume of 11,716,173. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $115.36 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02. The firm's 50 day moving average price is $78.07 and its 200-day moving average price is $80.65. NIKE has a 52 week low of $70.75 and a 52 week high of $123.30.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. NIKE's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts forecast that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. NIKE's payout ratio is presently 45.85%.

Institutional Trading of NIKE

Hedge funds have recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P lifted its holdings in shares of NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker's stock worth $575,342,000 after buying an additional 6,507,856 shares during the last quarter. State Street Corp increased its position in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Holocene Advisors LP acquired a new position in NIKE during the 3rd quarter valued at $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in NIKE in the 3rd quarter valued at $144,927,000. Finally, Renaissance Technologies LLC grew its position in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker's stock worth $150,101,000 after purchasing an additional 1,550,611 shares during 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.