Wells Fargo & Company Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price lowered by Wells Fargo & Company from $90.00 to $85.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the footwear maker’s stock.

A number of other research analysts have also weighed in on NKE. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Evercore ISI reduced their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Truist Financial dropped their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Down 5.4 %

NKE stock opened at $68.02 on Friday. NIKE has a twelve month low of $65.17 and a twelve month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The business has a 50 day moving average of $74.70 and a 200 day moving average of $77.46.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of large investors have recently bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at $28,000. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter worth $30,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the 4th quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the period. 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.