NIKE (NYSE:NKE) Price Target Cut to $116.00 by Analysts at Morgan Stanley

NIKE (NYSE:NKE) had its target price cut by Morgan Stanley from $124.00 to $116.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the footwear maker’s stock.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group lowered their price target on NIKE from $110.00 to $100.00 and set a hold rating for the company in a research report on Friday, March 22nd. TheStreet lowered NIKE from a b rating to a c+ rating in a research report on Tuesday, January 9th. The Goldman Sachs Group decreased their target price on NIKE from $135.00 to $120.00 and set a buy rating for the company in a research report on Friday, March 22nd. Wedbush reissued an outperform rating and issued a $115.00 target price on shares of NIKE in a research report on Wednesday. Finally, Williams Trading reissued a sell rating and issued a $85.00 target price (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $116.52.

NIKE Stock Performance

Shares of NKE stock opened at $93.98 on Wednesday. NIKE has a 12 month low of $88.66 and a 12 month high of $128.68. The stock has a market cap of $143.03 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average price is $101.38 and its 200-day moving average price is $103.56.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities analysts expect that NIKE will post 3.72 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Financial Freedom LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $29,000. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Impact Partnership Wealth LLC boosted its stake in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares during the period. Planned Solutions Inc. bought a new position in NIKE in the 4th quarter worth approximately $29,000. Finally, True Wealth Design LLC boosted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.