NIKE (NYSE:NKE) Given New $70.00 Price Target at Piper Sandler

NIKE (NYSE:NKE) had its price target decreased by Piper Sandler from $90.00 to $70.00 in a report released on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the footwear maker’s stock.

Several other equities analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.19.

NIKE Trading Up 0.1 %

Shares of NIKE stock opened at $54.44 on Friday. The firm’s 50-day moving average price is $70.03 and its 200 day moving average price is $74.93. NIKE has a twelve month low of $52.28 and a twelve month high of $98.04. The firm has a market capitalization of $80.52 billion, a PE ratio of 16.80, a P/E/G ratio of 2.52 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.94%. NIKE’s payout ratio is 53.16%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price 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 in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were 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 of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitlin John LLC raised its holdings in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC purchased a new stake in NIKE during the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.