NIKE (NYSE:NKE – Get Rating) had its price target trimmed by Cowen from $127.00 to $124.00 in a report published on Monday, Stock Target Advisor reports. The brokerage currently has an outperform rating on the footwear maker's stock.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. set a $130.00 target price on shares of NIKE in a research note on Wednesday, August 10th. Exane BNP Paribas downgraded shares of NIKE from an outperform rating to a neutral rating and set a $118.00 target price on the stock. in a research note on Tuesday, August 9th. Wells Fargo & Company reduced their target price on shares of NIKE from $150.00 to $130.00 and set an overweight rating on the stock in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft set a $130.00 target price on shares of NIKE in a research note on Tuesday, June 28th. Finally, Stifel Nicolaus reduced their target price on shares of NIKE from $135.00 to $130.00 in a research note on Wednesday, July 20th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, NIKE has an average rating of Moderate Buy and an average price target of $136.42.

NIKE Price Performance

NIKE stock opened at $107.00 on Monday. The company has a market cap of $167.84 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.35 and a beta of 1.03. The firm's fifty day moving average is $109.98 and its 200 day moving average is $117.11. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58. NIKE has a 52-week low of $99.53 and a 52-week high of $179.10.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, September 2nd. NIKE's payout ratio is currently 32.45%.

NIKE declared that its Board of Directors has approved a stock buyback plan on Monday, June 27th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the footwear maker to repurchase up to 11% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at NIKE

In related news, CFO Matthew Friend sold 4,139 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the transaction, the chief financial officer now directly owns 56,539 shares of the company's stock, valued at approximately $6,412,653.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Matthew Friend sold 4,139 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the transaction, the chief financial officer now directly owns 56,539 shares of the company's stock, valued at approximately $6,412,653.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the transaction, the director now directly owns 25,681 shares in the company, valued at $2,644,115.76. The disclosure for this purchase can be found here. Insiders sold 59,561 shares of company stock valued at $6,374,094 in the last three months. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

Institutional investors have recently bought and sold shares of the business. Evergreen Capital Management LLC raised its position in NIKE by 7.6% during the 1st quarter. Evergreen Capital Management LLC now owns 104,831 shares of the footwear maker's stock worth $14,106,000 after buying an additional 7,415 shares during the last quarter. CWM LLC increased its holdings in shares of NIKE by 12.5% during the 1st quarter. CWM LLC now owns 17,836 shares of the footwear maker's stock valued at $2,400,000 after purchasing an additional 1,986 shares in the last quarter. WealthPLAN Partners LLC increased its holdings in shares of NIKE by 4.8% during the 1st quarter. WealthPLAN Partners LLC now owns 2,747 shares of the footwear maker's stock valued at $343,000 after purchasing an additional 126 shares in the last quarter. Executive Wealth Management LLC increased its holdings in shares of NIKE by 4.2% during the 1st quarter. Executive Wealth Management LLC now owns 11,937 shares of the footwear maker's stock valued at $1,606,000 after purchasing an additional 476 shares in the last quarter. Finally, Evercore Wealth Management LLC increased its holdings in shares of NIKE by 0.3% during the 1st quarter. Evercore Wealth Management LLC now owns 592,823 shares of the footwear maker's stock valued at $79,770,000 after purchasing an additional 1,753 shares in the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.

About NIKE

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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