Citigroup Cuts NIKE (NYSE:NKE) Price Target to $125.00

NIKE (NYSE:NKE) had its price target decreased by Citigroup from $135.00 to $125.00 in a research report report published on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the footwear maker’s stock.

A number of other brokerages also recently weighed in on NKE. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $132.00 to $128.00 and set a buy rating on the stock in a research report on Friday, December 22nd. Royal Bank of Canada raised their target price on shares of NIKE from $120.00 to $127.00 and gave the stock an outperform rating in a report on Thursday, December 14th. BMO Capital Markets raised their target price on shares of NIKE from $110.00 to $118.00 and gave the stock an outperform rating in a report on Friday, December 22nd. Williams Trading restated a sell rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday. Finally, Raymond James raised their target price on shares of NIKE from $121.00 to $130.00 and gave the stock an outperform rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $122.07.

NIKE Trading Down 0.9 %

Shares of NYSE NKE traded down $0.90 during mid-day trading on Thursday, hitting $98.74. The company’s stock had a trading volume of 7,199,357 shares, compared to its average volume of 8,573,766. The stock has a market cap of $150.27 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.86 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 1.85. NIKE has a one year low of $88.66 and a one year high of $128.68. The company’s fifty day simple moving average is $102.51 and its 200-day simple moving average is $103.83.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.19. The business had revenue of $13.40 billion for the quarter, compared to the consensus estimate of $13.39 billion. NIKE had a net margin of 10.28% and a return on equity of 37.41%. NIKE’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that NIKE will post 3.57 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NKE. Impact Partnership Wealth LLC raised its stake in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE during the fourth quarter worth about $29,000. Financial Freedom LLC acquired a new position in NIKE during the fourth quarter worth about $29,000. Finally, True Wealth Design LLC raised its stake in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 63.42% of the company’s stock.

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.