Barclays Cuts NIKE (NYSE:NKE) Price Target to $140.00

NIKE (NYSE:NKE – Get Rating) had its target price trimmed by Barclays from $161.00 to $140.00 in a research report released on Tuesday morning, The Fly reports. The firm currently has an overweight rating on the footwear maker’s stock.

Several other analysts have also recently issued reports on NKE. Jefferies Financial Group reduced their price target on shares of NIKE from $200.00 to $185.00 and set a buy rating on the stock in a research report on Wednesday, March 16th. JPMorgan Chase & Co. set a $164.00 price target on shares of NIKE in a research report on Tuesday, May 3rd. Cowen dropped their price target on shares of NIKE from $192.00 to $144.00 and set an outperform rating for the company in a research note on Tuesday, March 8th. Wells Fargo & Company reduced their price objective on NIKE from $165.00 to $150.00 and set an equal weight rating on the stock in a research note on Wednesday, June 1st. Finally, Credit Suisse Group set a $165.00 target price on NIKE in a research note on Friday, April 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $155.85.

Shares of NYSE NKE opened at $108.00 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $117.21 and its two-hundred day moving average is $135.06. NIKE has a 52-week low of $103.46 and a 52-week high of $179.10. The firm has a market cap of $169.97 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.74 and a beta of 0.96.

NIKE (NYSE:NKE – Get Rating) last posted its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.61 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts anticipate that NIKE will post 3.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Monday, June 6th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, June 3rd. NIKE’s dividend payout ratio is currently 32.19%.

In other NIKE news, CFO Matthew Friend sold 9,032 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the completion of the sale, the chief financial officer now directly owns 51,581 shares of the company’s stock, valued at approximately $5,700,732.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the transaction, the chief operating officer now owns 73,795 shares in the company, valued at $8,900,414.95. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. Aquire Wealth Advisors LLC acquired a new position in NIKE during the 4th quarter worth approximately $26,000. Retirement Planning Co of New England Inc. purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new stake in shares of NIKE in the first quarter valued at approximately $26,000. Antonetti Capital Management LLC grew its holdings in NIKE by 900.0% during the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock worth $27,000 after acquiring an additional 180 shares during the period. Finally, Horan Securities Inc. acquired a new stake in NIKE in the fourth quarter valued at $29,000. 65.35% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile (Get Rating)

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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