NIKE (NYSE:NKE) Price Target Cut to $66.00 by Analysts at UBS Group

NIKE (NYSE:NKE - Free Report) had its target price reduced by UBS Group from $73.00 to $66.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the footwear maker's stock.

Other equities analysts also recently issued research reports about the company. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. BMO Capital Markets reduced their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday. Truist Financial cut their target price on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday. Robert W. Baird lowered their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday. Finally, China Renaissance started coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating on the stock. Fifteen research 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.com, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $87.38.

NIKE Price Performance

Shares of NIKE stock traded down $0.50 during trading hours on Friday, reaching $66.89. 3,373,891 shares of the company's stock were exchanged, compared to its average volume of 12,408,980. The business has a fifty day moving average of $74.61 and a two-hundred day moving average of $77.31. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $98.94 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE has a 1 year low of $65.17 and a 1 year high of $98.04.

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NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the prior year, the company earned $0.98 EPS. NIKE's revenue was down 9.1% compared to the same quarter last year. As a group, research analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.39%. NIKE's dividend payout ratio is currently 53.16%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the 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 sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of NIKE during the 4th quarter valued at $1,126,288,000. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker's stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.