UBS Group Cuts NIKE (NYSE:NKE) Price Target to $80.00

NIKE (NYSE:NKE) had its price objective reduced by UBS Group from $82.00 to $80.00 in a report issued on Monday,Benzinga reports. UBS Group currently has a neutral rating on the footwear maker’s stock.

NKE has been the subject of a number of other research reports. TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Jefferies Financial Group boosted their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Morgan Stanley raised their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Barclays lowered their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.39.

NIKE Stock Up 2.7 %

NKE opened at $78.83 on Monday. The stock’s fifty day simple moving average is $78.79 and its 200 day simple moving average is $81.35. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $118.19 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, research analysts expect that NIKE will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 45.85%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NKE. Garrison Point Advisors LLC increased its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC raised its stake in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC raised its stake in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. boosted its holdings in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its stake in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds 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.