Barclays Cuts NIKE (NYSE:NKE) Price Target to $114.00

NIKE (NYSE:NKE) had its target price lowered by Barclays from $142.00 to $114.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the footwear maker’s stock.

Other equities analysts have also issued research reports about the stock. HSBC cut their price target on shares of NIKE from $120.00 to $115.00 and set a hold rating on the stock in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $132.00 to $128.00 and set a buy rating for the company in a research report on Friday, December 22nd. Bank of America cut their target price on NIKE from $125.00 to $120.00 and set a neutral rating on the stock in a research report on Monday, March 18th. Oppenheimer lowered NIKE from an outperform rating to a market perform rating and set a $110.00 price target on the stock. in a research note on Friday, February 16th. Finally, Evercore ISI reduced their price objective on shares of NIKE from $127.00 to $117.00 and set an outperform rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $116.52.

NIKE Price Performance

NKE stock opened at $93.98 on Monday. The stock has a market cap of $143.03 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a 50 day simple moving average of $101.52 and a 200 day simple moving average of $103.63. NIKE has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE) last announced 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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Research analysts anticipate that NIKE will post 3.7 EPS for the current fiscal year.

NIKE Announces Dividend

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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Institutional Investors Weigh In On NIKE

Large investors have recently modified their holdings of the stock. HighPoint Advisor Group LLC bought a new stake in shares of NIKE in the fourth quarter valued at $2,137,000. Napatree Capital LLC bought a new stake in NIKE in the 4th quarter valued at about $690,000. Livelsberger Financial Advisory purchased a new stake in NIKE during the fourth quarter valued at about $159,000. Grayhawk Investment Strategies Inc. bought a new position in NIKE during the fourth quarter worth about $159,000. Finally, Accent Capital Management LLC bought a new position in NIKE during the fourth quarter worth about $818,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.