Barclays Cuts NIKE (NYSE:NKE) Price Target to $70.00

NIKE (NYSE:NKE) had its price target decreased by Barclays from $79.00 to $70.00 in a research note released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the footwear maker’s stock.

A number of other equities analysts also recently weighed in on the stock. TD Cowen cut their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of NIKE in a research report on Friday. Fifteen investment 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 a consensus target price of $89.77.

NIKE Trading Down 0.2 %

Shares of NKE stock opened at $76.94 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $115.36 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.89 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.30. The company has a 50-day simple moving average of $78.07 and a two-hundred day simple moving average of $80.55.

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

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 45.85%.

Institutional Investors Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the stock. Denver PWM LLC boosted its position in shares of NIKE by 9.7% during the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after buying an additional 227 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of NIKE by 65.4% during the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after acquiring an additional 41,752 shares during the last quarter. Soltis Investment Advisors LLC grew its stake in shares of NIKE by 12.2% in the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after acquiring an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of NIKE by 8.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock valued at $23,466,000 after purchasing an additional 20,043 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of NIKE by 59.9% during the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after buying an additional 395,434 shares during the period. 64.25% of the stock is 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.