NIKE (NYSE:NKE) Given New $82.00 Price Target at Truist Financial

NIKE (NYSE:NKE) had its target price reduced by Truist Financial from $90.00 to $82.00 in a research note released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the footwear maker’s stock.

A number of other brokerages also recently weighed in on NKE. BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley decreased their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Performance

NYSE:NKE opened at $68.02 on Friday. The stock has a market capitalization of $100.60 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE has a 1 year low of $65.17 and a 1 year high of $98.04. The firm has a 50 day moving average of $74.70 and a 200-day moving average of $77.40. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

Large investors have recently bought and sold shares of the company. JNBA Financial Advisors lifted its position 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 worth $760,000 after purchasing an additional 131 shares in the last quarter. Frisch Financial Group Inc. increased its stake in NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after buying an additional 136 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position 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 worth $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management boosted its stake in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after buying an additional 149 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after acquiring an additional 150 shares in the last quarter. 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.