NIKE (NYSE:NKE) Given New $99.00 Price Target at Robert W. Baird

NIKE (NYSE:NKE) had its price target decreased by Robert W. Baird from $105.00 to $99.00 in a research report sent to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the footwear maker’s stock.

Several other equities research analysts also recently commented on NKE. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Bank of America reduced their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group reissued a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

NIKE Price Performance

Shares of NKE opened at $68.02 on Friday. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04. The company has a 50 day moving average of $74.70 and a two-hundred day moving average of $77.46. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the business. Range Financial Group LLC acquired a new position in NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the 4th quarter valued at about $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE in the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.