Williams Trading Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE - Free Report) had its price objective lowered by Williams Trading from $93.00 to $73.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the footwear maker's stock.

Several other research firms have also weighed in on NKE. Telsey Advisory Group reissued a "market perform" rating and issued a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Guggenheim restated a "buy" rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Berenberg Bank started coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective for the company. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $82.81.

NIKE Trading Down 1.4 %

Shares of NYSE NKE traded down $0.82 during trading on Monday, reaching $57.66. The company had a trading volume of 17,132,246 shares, compared to its average volume of 14,357,113. NIKE has a 12 month low of $52.28 and a 12 month high of $98.04. 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 stock has a market cap of $85.29 billion, a P/E ratio of 17.80, a PEG ratio of 2.52 and a beta of 1.15. The company's fifty day moving average price is $67.15 and its 200-day moving average price is $73.17.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.77%. NIKE's dividend payout ratio is currently 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, 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 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 directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently bought and sold shares of NKE. JNBA Financial Advisors raised its stake in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after buying an additional 131 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in NIKE by 0.7% in 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 lifted its holdings in NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after purchasing an additional 149 shares during the last quarter. GAMMA Investing LLC boosted its position in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock worth $1,136,000 after purchasing an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC increased its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

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.