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

NIKE (NYSE:NKE) had its price target trimmed by UBS Group from $80.00 to $73.00 in a report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the footwear maker’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday. 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. Finally, Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Trading Down 0.2 %

NYSE:NKE opened at $76.94 on Friday. The stock 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 has a one year low of $70.75 and a one year high of $123.30. 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 business’s 50-day simple moving average is $78.07 and its 200 day simple moving average is $80.55.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. As a group, sell-side analysts predict that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Denver PWM LLC lifted its holdings in shares of NIKE by 9.7% during the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock worth $228,000 after acquiring an additional 227 shares during the period. Tidal Investments LLC lifted its stake in NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after purchasing an additional 41,752 shares during the period. Soltis Investment Advisors LLC boosted its holdings in NIKE by 12.2% during the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after purchasing an additional 3,918 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of NIKE by 8.2% in the 3rd 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 period. Finally, Toronto Dominion Bank raised its holdings in shares of NIKE by 59.9% in the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after buying an additional 395,434 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

About NIKE

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.