Barclays Cuts NIKE (NYSE:NKE) Price Target to $53.00

NIKE (NYSE:NKE) had its price objective decreased by Barclays from $60.00 to $53.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the footwear maker’s stock.

A number of other brokerages also recently issued reports on NKE. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Berenberg Bank assumed coverage on NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target for the company. UBS Group dropped their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Robert W. Baird dropped their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, Truist Financial dropped their price target on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.74.

NIKE Stock Up 0.4%

Shares of NYSE NKE opened at $59.78 on Wednesday. NIKE has a 52 week low of $52.28 and a 52 week high of $98.04. The business has a 50-day simple moving average of $59.78 and a two-hundred day simple moving average of $68.09. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The company has a market cap of $88.41 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.10 and a beta of 1.21.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. Research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

Hedge funds have recently made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, Saudi Central Bank bought a new stake in NIKE in the first quarter worth $30,000. 64.25% 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.