Stifel Nicolaus Cuts NIKE (NYSE:NKE) Price Target to $75.00

NIKE (NYSE:NKE) had its price target lowered by Stifel Nicolaus from $79.00 to $75.00 in a research report report published on Friday,Benzinga reports. The firm currently has a hold rating on the footwear maker’s stock.

NKE has been the topic of a number of other reports. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $93.00 to $80.00 in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Robert W. Baird increased their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, NIKE presently 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 business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s payout ratio is presently 45.85%.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Garrison Point Advisors LLC raised its position in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares in the last quarter. PSI Advisors LLC lifted its position in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the last quarter. Chapin Davis Inc. boosted its stake in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its position in NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.