Price target for NIKE (NYSE:NKE) lowered to $75.00 at TD Cowen

NIKE (NYSE:NKE – Free Report) The price target was cut by TD Cowen from $89.00 to $75.00 in a report published Friday morning, Benzinga reports. TD Cowen currently has a hold rating on the shoe maker’s stock.

Several other research firms have also recently commented on NKE. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $122.00 to $116.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Robert W. Baird decreased their price target on shares of NIKE from $140.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Wells Fargo & Company decreased their price target on shares of NIKE from $120.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Barclays decreased their price target on shares of NIKE from $142.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, March 25. Finally, UBS Group decreased their price target on shares of NIKE from $138.00 to $125.00 and gave the company a buy rating in a research note on Friday, March 22. Two equities analysts have rated the stock with a sell rating, fifteen have given a hold rating, and fourteen have given a buy rating. Based on data from MarketBeat, NIKE has a consensus rating of Hold and an average price target of $98.96.

Read our latest research report on NKE

Price development of NIKE shares

NIKE stock opened at $75.36 on Friday. The company’s 50-day moving average price is $93.28 and its 200-day moving average price is $99.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a market cap of $113.75 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. NIKE has a 52-week low of $74.55 and a 52-week high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, June 27. The footwear maker reported earnings per share of $1.01 for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company’s quarterly revenue declined 1.6% year-over-year. In the same quarter last year, the company reported earnings per share of $0.66. On average, equities analysts expect NIKE to report earnings per share of $3.9 for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will receive a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insiders place their bets

In other NIKE news, Vice President Johanna Nielsen sold 282 shares of the company’s stock on Thursday, May 9. The shares were sold at an average price of $93.64, for a total value of $26,406.48. After the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. In other NIKE news, Vice President Monique S. Matheson sold 45,000 shares of the company’s stock on Tuesday, May 7. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. After the sale, the vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. Also, Vice President Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the Vice President now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure of this sale can be found here. During the last quarter, insiders sold 213,660 shares of the company’s stock, valued at $19,946,333. 0.50% of the shares are currently owned by company insiders.

Institutional inflows and outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Iron Horse Wealth Management LLC increased its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Planned Solutions Inc. bought a new position in NIKE shares in the fourth quarter valued at around $29,000. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Core Wealth Advisors Inc. increased its stake in shares of NIKE by 408.5% in the fourth 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 in the last quarter. Institutional investors own 64.25% of the company’s stock.

About NIKE

(Get free report)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and services worldwide. The Company offers athletic and casual footwear, apparel and accessories under the Jumpman brand and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.