Stifel Nicolaus Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price target decreased by Stifel Nicolaus from $79.00 to $75.00 in a report issued on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the footwear maker’s stock.

NKE has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. TD Cowen lowered their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday. Sanford C. Bernstein decreased their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Price Performance

NIKE stock opened at $76.94 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market cap of $115.36 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The firm has a 50-day moving average of $78.07 and a two-hundred day moving average of $80.65. NIKE has a 1 year low of $70.75 and a 1 year high of $123.30.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. On average, research analysts forecast that NIKE will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. NIKE’s payout ratio is presently 45.85%.

Hedge Funds Weigh In On NIKE

Several large investors have recently made changes to their positions in the company. Denver PWM LLC increased its holdings in NIKE by 9.7% in the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after buying an additional 227 shares in the last quarter. Tidal Investments LLC increased its stake in shares of NIKE by 65.4% in the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after purchasing an additional 41,752 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in NIKE by 12.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock worth $3,183,000 after purchasing an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in NIKE by 8.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after purchasing an additional 20,043 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in NIKE by 59.9% in the third quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock valued at $93,315,000 after purchasing an additional 395,434 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

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.