Robert W. Baird Trims NIKE (NYSE:NKE) Target Price to $150.00

NIKE (NYSE:NKEGet Rating) had its price objective decreased by Robert W. Baird from $165.00 to $150.00 in a research report sent to investors on Tuesday morning, The Fly reports. Robert W. Baird currently has an outperform rating on the footwear maker’s stock.

NKE has been the topic of a number of other reports. Telsey Advisory Group lowered their price target on NIKE from $190.00 to $165.00 and set an outperform rating on the stock in a report on Friday, March 18th. Sanford C. Bernstein assumed coverage on NIKE in a report on Monday, March 14th. They issued an outperform rating and a $160.00 price target on the stock. BMO Capital Markets lowered their price target on NIKE from $170.00 to $150.00 and set an outperform rating on the stock in a report on Tuesday, March 22nd. Credit Suisse Group set a $165.00 price objective on NIKE in a research note on Friday, April 29th. Finally, Wedbush reduced their price objective on NIKE from $163.00 to $139.00 in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $155.85.

NKE stock opened at $108.00 on Tuesday. NIKE has a twelve month low of $103.46 and a twelve month high of $179.10. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64. The stock has a market cap of $169.97 billion, a P/E ratio of 28.50, a PEG ratio of 1.74 and a beta of 0.96. The business’s 50-day moving average price is $117.21 and its 200-day moving average price is $135.06.

NIKE (NYSE:NKEGet Rating) last posted its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The firm had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts expect that NIKE will post 3.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 32.19%.

In other news, COO Andrew Campion sold 14,203 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the transaction, the chief operating officer now directly owns 73,795 shares of the company’s stock, valued at $8,900,414.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the completion of the transaction, the chief financial officer now directly owns 51,581 shares in the company, valued at $5,700,732.12. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NKE. Aquire Wealth Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $26,000. Retirement Planning Co of New England Inc. acquired a new stake in NIKE during the fourth quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in NIKE during the first quarter worth approximately $26,000. Antonetti Capital Management LLC boosted its position in NIKE by 900.0% during the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock worth $27,000 after purchasing an additional 180 shares in the last quarter. Finally, Horan Securities Inc. purchased a new position in NIKE during the fourth quarter worth approximately $29,000. 65.35% of the stock is currently owned by hedge funds and other institutional investors.

About NIKE (Get Rating)

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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