NIKE (NYSE:NKE) Given New $60.00 Price Target at Barclays

NIKE (NYSE:NKE - Free Report) had its price objective lowered by Barclays from $70.00 to $60.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the footwear maker's stock.

A number of other analysts also recently issued reports on NKE. Needham & Company LLC decreased their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Wells Fargo & Company lowered shares of NIKE from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $75.00 to $55.00 in a research note on Wednesday, April 30th. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, China Renaissance assumed coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.30.

NIKE Stock Up 0.9%

NKE traded up $0.59 during trading on Monday, hitting $62.32. 7,448,084 shares of the company's stock were exchanged, compared to its average volume of 14,799,042. NIKE has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The stock has a market cap of $92.17 billion, a P/E ratio of 19.25, a PEG ratio of 2.52 and a beta of 1.23. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $61.57 and its two-hundred day moving average is $70.96.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the stock. JNBA Financial Advisors lifted its position in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after buying an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after acquiring an additional 136 shares during the period. Elgethun Capital Management grew its position in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC increased its stake in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock worth $114,000 after purchasing an additional 150 shares during the period. Finally, AlTi Global Inc. boosted its stake in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is owned by hedge funds and other 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.