NIKE (NYSE:NKE) Downgraded by Barclays to Equal Weight

Barclays downgraded shares of NIKE (NYSE:NKEGet Rating) from an overweight rating to an equal weight rating in a report published on Tuesday morning, Marketbeat.com reports. They currently have $110.00 target price on the footwear maker’s stock, down from their prior target price of $125.00.

Other research analysts have also issued reports about the stock. Cowen lowered their price objective on shares of NIKE from $127.00 to $124.00 and set an outperform rating on the stock in a research note on Monday, September 12th. Exane BNP Paribas lowered shares of NIKE from an outperform rating to a neutral rating and set a $118.00 price objective on the stock. in a research note on Tuesday, August 9th. BNP Paribas lowered shares of NIKE from an outperform rating to a neutral rating and set a $118.00 price objective on the stock. in a research note on Tuesday, August 9th. Wells Fargo & Company lowered their price objective on shares of NIKE from $150.00 to $130.00 and set an overweight rating on the stock in a research note on Tuesday, June 28th. Finally, Robert W. Baird lowered their price objective on shares of NIKE from $150.00 to $140.00 and set an outperform rating on the stock in a research note on Tuesday, June 28th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $135.85.

NIKE Stock Down 4.5 %

Shares of NKE stock opened at $102.42 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58. NIKE has a 1 year low of $99.53 and a 1 year high of $179.10. The firm’s fifty day moving average price is $109.95 and its two-hundred day moving average price is $116.20. The firm has a market capitalization of $160.65 billion, a P/E ratio of 27.24, a PEG ratio of 2.21 and a beta of 1.03.

NIKE (NYSE:NKEGet Rating) last issued its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.10 billion. During the same period in the previous year, the business earned $0.93 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that NIKE will post 3.78 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s dividend payout ratio is currently 32.45%.

NIKE announced that its board has initiated a share buyback plan on Monday, June 27th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the footwear maker to buy up to 11% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the completion of the sale, the executive vice president now owns 60,330 shares of the company’s stock, valued at approximately $6,466,772.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Monique S. Matheson sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the completion of the sale, the executive vice president now owns 60,330 shares of the company’s stock, valued at approximately $6,466,772.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew Campion sold 5,922 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the sale, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at approximately $8,539,958.90. The disclosure for this sale can be found here. Insiders sold 59,561 shares of company stock valued at $6,374,094 in the last quarter. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC lifted its stake in NIKE by 7.6% in the 1st quarter. Evergreen Capital Management LLC now owns 104,831 shares of the footwear maker’s stock valued at $14,106,000 after purchasing an additional 7,415 shares during the last quarter. CWM LLC increased its position in NIKE by 12.5% in the 1st quarter. CWM LLC now owns 17,836 shares of the footwear maker’s stock valued at $2,400,000 after acquiring an additional 1,986 shares during the period. WealthPLAN Partners LLC increased its position in NIKE by 4.8% in the 1st quarter. WealthPLAN Partners LLC now owns 2,747 shares of the footwear maker’s stock valued at $343,000 after acquiring an additional 126 shares during the period. Executive Wealth Management LLC increased its position in NIKE by 4.2% in the 1st quarter. Executive Wealth Management LLC now owns 11,937 shares of the footwear maker’s stock valued at $1,606,000 after acquiring an additional 476 shares during the period. Finally, Evercore Wealth Management LLC increased its position in NIKE by 0.3% in the 1st quarter. Evercore Wealth Management LLC now owns 592,823 shares of the footwear maker’s stock valued at $79,770,000 after acquiring an additional 1,753 shares during the period. Institutional investors own 64.19% of the company’s stock.

NIKE Company Profile

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Analyst Recommendations for NIKE (NYSE:NKE)

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