Citigroup Cuts NIKE (NYSE:NKE) Price Target to $125.00

NIKE (NYSE:NKE) had its target price lowered by Citigroup from $135.00 to $125.00 in a research note issued to investors on Thursday, Benzinga reports. Citigroup currently has a buy rating on the footwear maker’s stock.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $132.00 to $128.00 and set a buy rating on the stock in a research report on Friday, December 22nd. Oppenheimer cut NIKE from an outperform rating to a market perform rating and set a $110.00 price objective on the stock. in a report on Friday, February 16th. JPMorgan Chase & Co. cut their target price on shares of NIKE from $139.00 to $128.00 and set an overweight rating for the company in a report on Friday, December 22nd. The Goldman Sachs Group reaffirmed a buy rating and set a $139.00 price target on shares of NIKE in a research note on Tuesday, December 5th. Finally, Raymond James lifted their price objective on shares of NIKE from $121.00 to $130.00 and gave the stock an outperform rating in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of Moderate Buy and a consensus target price of $122.07.

NIKE Price Performance

NKE stock traded down $0.90 during midday trading on Thursday, hitting $98.74. The company’s stock had a trading volume of 7,199,357 shares, compared to its average volume of 8,573,766. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a 50 day moving average of $102.51 and a two-hundred day moving average of $103.83. The firm has a market capitalization of $150.27 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.19. The firm had revenue of $13.40 billion during the quarter, compared to analyst estimates of $13.39 billion. NIKE had a net margin of 10.28% and a return on equity of 37.41%. NIKE’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, analysts expect that NIKE will post 3.57 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s dividend payout ratio is 43.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Impact Partnership Wealth LLC boosted its position in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the fourth quarter valued at about $29,000. Financial Freedom LLC purchased a new position in NIKE in the fourth quarter valued at about $29,000. Finally, True Wealth Design LLC raised its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. 63.42% of the stock is currently owned by institutional investors.

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.