NIKE (NYSE:NKE) Price Target Cut to $125.00

NIKE (NYSE:NKE) had its price target reduced by Citigroup from $135.00 to $125.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

A number of other equities research analysts have also commented on NKE. Oppenheimer lowered shares of NIKE from an outperform rating to a market perform rating and set a $110.00 price objective on the stock. in a report on Friday, February 16th. TheStreet cut shares of NIKE from a b rating to a c+ rating in a research note on Tuesday, January 9th. HSBC dropped their price objective on shares of NIKE from $120.00 to $115.00 and set a hold rating for the company in a research report on Monday, January 22nd. Truist Financial increased their price objective on NIKE from $107.00 to $111.00 and gave the company a hold rating in a research report on Thursday, December 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $132.00 to $128.00 and set a buy rating for the company in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $122.07.

NIKE Price Performance

NYSE:NKE traded down $0.90 on Thursday, reaching $98.74. The stock had a trading volume of 7,199,357 shares, compared to its average volume of 8,573,766. The company has a market capitalization of $150.27 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE has a 1-year low of $88.66 and a 1-year high of $128.68. The stock has a fifty day moving average price of $102.51 and a 200-day moving average price of $103.83.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.19. The firm had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $13.39 billion. NIKE had a return on equity of 37.41% and a net margin of 10.28%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Research analysts forecast that NIKE will post 3.57 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.50%. NIKE’s payout ratio is 43.27%.

Institutional Trading of NIKE

A number of institutional investors have recently modified their holdings of the company. Impact Partnership Wealth LLC lifted its position in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC grew its holdings in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Financial Freedom LLC bought a new stake in NIKE during the fourth quarter worth about $29,000. Finally, True Wealth Design LLC boosted its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. 63.42% of the stock is currently 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.