The Goldman Sachs Group Cuts NIKE (NYSE:NKE) Price Target to $72.00

NIKE (NYSE:NKE - Free Report) had its price objective decreased by The Goldman Sachs Group from $88.00 to $72.00 in a research note published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the footwear maker's stock.

Other research analysts also recently issued research reports about the company. Truist Financial reduced their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and increased their target price for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Williams Trading lowered their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $82.81.

NIKE Stock Down 1.4 %

Shares of NKE stock traded down $0.82 on Tuesday, hitting $57.66. The stock had a trading volume of 17,132,246 shares, compared to its average volume of 14,426,587. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50 day moving average of $66.75 and a 200 day moving average of $73.01. NIKE has a 12-month low of $52.28 and a 12-month high of $98.04. The stock has a market cap of $85.29 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating 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 last year, the business posted $0.98 EPS. The company's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that NIKE will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction 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 completion of the sale, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NKE. Mather Group LLC. increased its stake in NIKE by 34.1% during the 1st quarter. Mather Group LLC. now owns 40,246 shares of the footwear maker's stock valued at $2,555,000 after purchasing an additional 10,234 shares in the last quarter. Alta Advisers Ltd boosted its holdings in shares of NIKE by 50.5% in the first quarter. Alta Advisers Ltd now owns 5,961 shares of the footwear maker's stock worth $378,000 after buying an additional 2,000 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of NIKE by 10.6% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,971 shares of the footwear maker's stock valued at $252,000 after acquiring an additional 381 shares during the period. Koshinski Asset Management Inc. grew its holdings in NIKE by 32.2% during the first quarter. Koshinski Asset Management Inc. now owns 8,833 shares of the footwear maker's stock valued at $561,000 after purchasing an additional 2,150 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in NIKE by 14.3% in the 1st quarter. Westside Investment Management Inc. now owns 4,204 shares of the footwear maker's stock worth $269,000 after acquiring an additional 526 shares in the last quarter. 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.