JPMorgan Chase & Co. Lowers NIKE (NYSE:NKE) Price Target to $77.00

NIKE (NYSE:NKE) had its price target cut by JPMorgan Chase & Co. from $80.00 to $77.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the footwear maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer reissued an outperform rating and set a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an outperform rating on the stock in a research report on Thursday, September 19th. The Goldman Sachs Group dropped their target price on NIKE from $118.00 to $105.00 and set a buy rating for the company in a research report on Friday, June 28th. Telsey Advisory Group cut their price objective on shares of NIKE from $100.00 to $96.00 and set an outperform rating for the company in a research note on Wednesday. Finally, TD Cowen decreased their price objective on NIKE from $75.00 to $71.00 and set a hold rating on the stock in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $96.04.

NIKE Stock Up 0.2 %

Shares of NYSE:NKE opened at $82.25 on Wednesday. The firm has a market cap of $124.14 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The business has a fifty day simple moving average of $80.90 and a 200 day simple moving average of $86.15. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the company posted $0.94 earnings per share. Analysts predict that NIKE will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC lifted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Core Wealth Advisors Inc. boosted its holdings in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth about $33,000. Finally, Pineridge Advisors LLC bought a new position in NIKE during the fourth quarter valued at approximately $38,000. 64.25% of the stock is owned by hedge funds and other 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.