NIKE (NYSE:NKE) Price Target Cut to $120.00 by Analysts at Wells Fargo & Company

NIKE (NYSE:NKEFree Report) had its target price decreased by Wells Fargo & Company from $125.00 to $120.00 in a research report sent to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the footwear maker’s stock.

Other research analysts have also recently issued reports about the company. Raymond James lifted their price target on NIKE from $121.00 to $130.00 and gave the company an outperform rating in a report on Tuesday, December 19th. Bank of America cut their price target on NIKE from $125.00 to $120.00 and set a neutral rating for the company in a report on Monday, March 18th. JPMorgan Chase & Co. cut their price target on NIKE from $139.00 to $128.00 and set an overweight rating for the company in a report on Friday, December 22nd. TheStreet lowered NIKE from a b rating to a c+ rating in a research report on Tuesday, January 9th. Finally, Deutsche Bank Aktiengesellschaft decreased 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 analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of Moderate Buy and an average price target of $117.29.

Get Our Latest Analysis on NKE

NIKE Stock Down 7.0 %

Shares of NKE stock opened at $93.76 on Friday. The stock has a market cap of $142.69 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. The stock has a fifty day moving average price of $102.29 and a 200 day moving average price of $103.77. NIKE has a one year low of $88.66 and a one year high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.85.

NIKE (NYSE:NKEGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.54% and a net margin of 10.14%. Analysts predict that NIKE will post 3.54 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared 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 yield of 1.58%. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the business. Oliver Luxxe Assets LLC lifted its holdings in NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after acquiring an additional 1,041 shares during the period. Financial Gravity Asset Management Inc. lifted its holdings in NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of NIKE by 883.4% in the third quarter. Daymark Wealth Partners LLC now owns 109,538 shares of the footwear maker’s stock valued at $10,474,000 after buying an additional 98,399 shares during the period. Peoples Financial Services CORP. raised its stake in shares of NIKE by 6.2% in the third quarter. Peoples Financial Services CORP. now owns 13,039 shares of the footwear maker’s stock valued at $1,247,000 after buying an additional 760 shares during the period. Finally, Janney Capital Management LLC raised its stake in shares of NIKE by 31.9% in the third quarter. Janney Capital Management LLC now owns 82,382 shares of the footwear maker’s stock valued at $7,877,000 after buying an additional 19,947 shares during the period. 63.42% of the stock is currently owned by institutional investors.

NIKE Company Profile

(Get Free Report)

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.

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