NIKE (NYSE:NKE) Given New $114.00 Price Target at Barclays

NIKE (NYSE:NKE) had its target price trimmed by Barclays from $142.00 to $114.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the footwear maker’s stock.

Several other brokerages have also weighed in on NKE. Bank of America cut their price objective on NIKE from $125.00 to $120.00 and set a neutral rating for the company in a report on Monday, March 18th. Wedbush lowered their price objective on shares of NIKE from $131.00 to $115.00 and set an outperform rating on the stock in a research note on Tuesday, March 19th. Wells Fargo & Company reduced their target price on shares of NIKE from $125.00 to $120.00 and set an overweight rating for the company in a report on Friday, March 22nd. Stifel Nicolaus reduced their price objective on NIKE from $129.00 to $117.00 and set a buy rating for the company in a research note on Friday, March 22nd. Finally, DZ Bank raised NIKE from a hold rating to a buy rating and set a $130.00 target price for the company in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of Moderate Buy and an average price target of $116.52.

NIKE Stock Down 0.2 %

Shares of NIKE stock opened at $93.98 on Monday. NIKE has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a market capitalization of $143.03 billion, a P/E ratio of 27.64, a PEG ratio of 1.74 and a beta of 1.10. The business’s fifty day moving average price is $101.52 and its two-hundred day moving average price is $103.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, research analysts forecast that NIKE will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. NIKE’s dividend payout ratio is presently 43.53%.

Hedge Funds Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC increased its holdings in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the 4th quarter worth about $29,000. Financial Freedom LLC acquired a new stake in NIKE in the 4th quarter valued at about $29,000. Finally, True Wealth Design LLC raised its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. 64.25% of the stock is 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.