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

Several other research firms have also recently issued reports on NKE. Robert W. Baird cut their price objective on NIKE from $150.00 to $140.00 and set an outperform rating for the company in a research report on Tuesday, June 28th. UBS Group cut their price objective on NIKE from $168.00 to $156.00 in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft set a $130.00 price objective on NIKE in a research report on Tuesday, June 28th. BNP Paribas cut NIKE from an outperform rating to a neutral rating and set a $118.00 price objective for the company. in a research report on Tuesday, August 9th. Finally, KGI Securities cut NIKE from an outperform rating to a neutral rating in a research report on Monday, May 23rd. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $136.42.

NIKE Price Performance

Shares of NYSE NKE opened at $107.00 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The stock has a fifty day moving average price of $109.98 and a 200 day moving average price of $117.11. NIKE has a 1-year low of $99.53 and a 1-year high of $179.10. The company has a market cap of $167.84 billion, a PE ratio of 28.46, a P/E/G ratio of 2.35 and a beta of 1.03.

NIKE Dividend Announcement

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

NIKE declared that its board has authorized a stock repurchase plan on Monday, June 27th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Monique S. Matheson sold 19,500 shares of NIKE stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total value of $2,017,275.00. Following the transaction, the executive vice president now directly owns 80,355 shares of the company's stock, valued at approximately $8,312,724.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Monique S. Matheson sold 19,500 shares of NIKE stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total value of $2,017,275.00. Following the transaction, the executive vice president now directly owns 80,355 shares of the company's stock, valued at approximately $8,312,724.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Friend sold 4,139 shares of NIKE stock in a transaction dated 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 in the company, valued at $6,412,653.38. The disclosure for this sale can be found here. Insiders have sold 59,561 shares of company stock valued at $6,374,094 in the last three months. Corporate insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently modified their holdings of NKE. FNY Investment Advisers LLC purchased a new stake in shares of NIKE during the 1st quarter valued at about $26,000. LFA Lugano Financial Advisors SA increased its holdings in NIKE by 63.3% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 258 shares of the footwear maker's stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Antonetti Capital Management LLC increased its holdings in NIKE by 900.0% during the 1st quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker's stock worth $27,000 after purchasing an additional 180 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new stake in NIKE during the 4th quarter worth approximately $31,000. Finally, Worth Asset Management LLC purchased a new stake in NIKE during the 1st quarter worth approximately $32,000. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Company Profile

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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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