UBS Group Cuts NIKE (NYSE:NKE) Price Target to $73.00

NIKE (NYSE:NKE - Free Report) had its price target decreased by UBS Group from $80.00 to $73.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the footwear maker's stock.

A number of other brokerages have also recently issued reports on NKE. Jefferies Financial Group increased their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Telsey Advisory Group lowered NIKE from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $93.00 to $80.00 in a research note on Friday. Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Monday. Finally, Barclays cut their target price on NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $89.77.

NIKE Stock Performance

NYSE:NKE traded down $0.16 during mid-day trading on Friday, hitting $76.94. 49,808,547 shares of the company traded hands, compared to its average volume of 11,716,173. The stock's fifty day moving average price is $78.07 and its 200-day moving average price is $80.65. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE has a one year low of $70.75 and a one year high of $123.30. The firm has a market cap of $115.36 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the company posted $1.03 EPS. The firm's revenue was down 7.7% on a year-over-year basis. Research analysts anticipate that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently bought and sold shares of NKE. State Street Corp boosted its stake 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 buying an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its holdings in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Legal & General Group Plc grew its holdings in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock valued at $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after purchasing an additional 583,207 shares during the period. Hedge funds and other 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.