Robert W. Baird Trims NIKE (NYSE:NKE) Target Price to $150.00

NIKE (NYSE:NKEGet Rating) had its price objective decreased by Robert W. Baird from $165.00 to $150.00 in a report issued on Tuesday, The Fly reports. Robert W. Baird currently has an outperform rating on the footwear maker’s stock.

Several other equities analysts have also commented on the stock. HSBC decreased their target price on shares of NIKE from $140.00 to $132.00 and set a hold rating on the stock in a report on Tuesday, June 14th. Morgan Stanley restated an overweight rating and issued a $159.00 price target on shares of NIKE in a research note on Wednesday, June 15th. KGI Securities downgraded shares of NIKE from an outperform rating to a neutral rating in a research note on Monday, May 23rd. Stifel Nicolaus reduced their price target on shares of NIKE from $160.00 to $150.00 in a research note on Monday, June 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of NIKE from $173.00 to $175.00 in a research note on Tuesday, March 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $155.85.

NYSE:NKE opened at $108.00 on Tuesday. NIKE has a 52 week low of $103.46 and a 52 week high of $179.10. The firm has a market cap of $169.97 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 1.74 and a beta of 0.96. The firm’s 50-day simple moving average is $117.21 and its 200 day simple moving average is $135.06. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.18 and a current ratio of 3.06.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings results on Monday, March 21st. The footwear maker reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.61 billion. During the same period last year, the firm earned $0.90 earnings per share. NIKE’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that NIKE will post 3.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Monday, June 6th will be paid a dividend of $0.305 per share. The ex-dividend date is Friday, June 3rd. This represents a $1.22 dividend on an annualized basis and a yield of 1.13%. NIKE’s dividend payout ratio (DPR) is presently 32.19%.

In other NIKE news, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the transaction, the chief operating officer now directly owns 73,795 shares of the company’s stock, valued at approximately $8,900,414.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of NIKE stock in a transaction on Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the transaction, the chief financial officer now directly owns 51,581 shares in the company, valued at $5,700,732.12. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Several large investors have recently modified their holdings of NKE. Norges Bank purchased a new stake in NIKE during the fourth quarter valued at about $1,894,686,000. State Street Corp lifted its holdings in NIKE by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock valued at $9,433,251,000 after purchasing an additional 1,969,270 shares during the last quarter. Jennison Associates LLC lifted its holdings in NIKE by 14.6% during the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the footwear maker’s stock valued at $2,551,253,000 after purchasing an additional 1,944,401 shares during the last quarter. Wellington Management Group LLP lifted its holdings in NIKE by 9.0% during the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock valued at $2,427,495,000 after purchasing an additional 1,486,421 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in NIKE by 221.5% during the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker’s stock valued at $275,368,000 after purchasing an additional 1,409,913 shares during the last quarter. 65.35% of the stock is currently owned by institutional investors.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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