Nike (NYSE:NKE) had its price target cut by Credit Suisse Group from $114.00 to $111.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the footwear maker’s stock.

A number of other equities research analysts also recently weighed in on the stock. Deutsche Bank boosted their price target on shares of Nike from $84.00 to $87.00 and gave the stock a hold rating in a research note on Monday, June 15th. Goldman Sachs Group reissued a buy rating and set a $110.00 price target (up from $96.00) on shares of Nike in a research note on Friday. Piper Sandler boosted their price target on shares of Nike from $96.00 to $112.00 and gave the stock an overweight rating in a research note on Monday, June 22nd. Jefferies Financial Group reissued a hold rating and set a $83.00 price target on shares of Nike in a research note on Friday, May 1st. Finally, UBS Group boosted their price target on shares of Nike from $114.00 to $122.00 and gave the stock a buy rating in a research note on Monday, June 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $108.96.

Shares of NYSE NKE opened at $95.87 on Friday. Nike has a 1-year low of $60.00 and a 1-year high of $105.62. The company has a market cap of $148.25 billion, a PE ratio of 60.68, a P/E/G ratio of 3.05 and a beta of 0.78. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $96.23 and a two-hundred day moving average of $93.53.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. Nike had a return on equity of 31.93% and a net margin of 6.79%. The company’s revenue was down 38.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, equities research analysts forecast that Nike will post 2.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s dividend payout ratio (DPR) is presently 52.97%.

In other Nike news, Director John W. Rogers, Jr. bought 1,000 shares of Nike stock in a transaction that occurred on Friday, April 3rd. The stock was acquired at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the completion of the acquisition, the director now owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $90.00, for a total transaction of $990,000.00. The disclosure for this sale can be found here. Insiders have sold 236,000 shares of company stock valued at $23,228,100 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Firestone Capital Management bought a new stake in Nike during the fourth quarter worth $25,000. Sowa Financial Group Inc. bought a new stake in Nike during the fourth quarter worth $27,000. Kessler Investment Group LLC bought a new stake in Nike during the first quarter worth $27,000. Stuart Chaussee & Associates Inc. raised its position in Nike by 668.9% during the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares in the last quarter. Finally, Perennial Advisors LLC bought a new stake in Nike during the first quarter worth $30,000. Institutional investors and hedge funds own 64.54% of the company’s stock.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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