UBS Group Cuts Nike (NYSE:NKE) Price Target to $114.00

Nike (NYSE:NKE) had its target price reduced by UBS Group from $123.00 to $114.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the footwear maker’s stock.

A number of other brokerages have also recently weighed in on NKE. Raymond James decreased their price target on shares of Nike from $110.00 to $100.00 and set an outperform rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Nike from $75.00 to $91.00 and gave the company an overweight rating in a report on Wednesday. Bank of America raised Nike from a neutral rating to a buy rating and reduced their price target for the stock from $105.00 to $85.00 in a research report on Friday, March 20th. Evercore ISI assumed coverage on shares of Nike in a research report on Friday, December 20th. They issued a buy rating and a $150.00 price objective for the company. Finally, Goldman Sachs Group reiterated a buy rating and set a $114.00 price objective on shares of Nike in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $97.79.

Shares of Nike stock traded down $1.07 during trading hours on Wednesday, reaching $83.23. The stock had a trading volume of 14,181,623 shares, compared to its average volume of 16,322,829. The firm has a market capitalization of $131.29 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 2.59 and a beta of 0.84. Nike has a 1 year low of $60.00 and a 1 year high of $105.62. The company has a current ratio of 1.90, a quick ratio of 1.23 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $88.66 and a two-hundred day simple moving average of $93.61.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Nike had a net margin of 10.46% and a return on equity of 51.49%. The firm had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.56 billion. During the same period in the previous year, the company posted $0.68 earnings per share. Nike’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Nike will post 2.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, February 28th. Nike’s dividend payout ratio is presently 39.36%.

In other news, CAO Hilary K. Krane sold 28,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $101.00, for a total transaction of $2,828,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $101.26, for a total transaction of $11,138,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,916 shares of company stock worth $27,686,864. 3.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of Nike during the third quarter valued at $12,628,000. Psagot Investment House Ltd. grew its position in Nike by 452.5% in the 3rd quarter. Psagot Investment House Ltd. now owns 107,077 shares of the footwear maker’s stock valued at $10,057,000 after buying an additional 87,697 shares in the last quarter. Colony Group LLC increased its stake in Nike by 0.9% during the 3rd quarter. Colony Group LLC now owns 16,846 shares of the footwear maker’s stock valued at $1,582,000 after buying an additional 151 shares during the period. MV Capital Management Inc. raised its position in shares of Nike by 5.1% during the 3rd quarter. MV Capital Management Inc. now owns 13,010 shares of the footwear maker’s stock worth $1,222,000 after buying an additional 631 shares in the last quarter. Finally, Headinvest LLC lifted its stake in shares of Nike by 3.4% in the 3rd quarter. Headinvest LLC now owns 7,365 shares of the footwear maker’s stock worth $692,000 after acquiring an additional 239 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About Nike

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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