NIKE (NYSE:NKE) Given New $85.00 Price Target at Jefferies Financial Group

NIKE (NYSE:NKE) had its price target hoisted by Jefferies Financial Group from $80.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the footwear maker’s stock.

A number of other equities research analysts have also recently commented on the stock. Telsey Advisory Group restated an outperform rating and set a $100.00 target price on shares of NIKE in a research note on Friday, September 20th. Sanford C. Bernstein decreased their price objective on shares of NIKE from $112.00 to $109.00 and set an outperform rating on the stock in a research report on Thursday, September 19th. Evercore ISI upped their target price on shares of NIKE from $105.00 to $110.00 and gave the stock an outperform rating in a report on Friday, September 20th. HSBC decreased their price target on NIKE from $100.00 to $90.00 and set a hold rating on the stock in a report on Friday, June 28th. Finally, Barclays upped their price objective on NIKE from $80.00 to $84.00 and gave the stock an equal weight rating in a research note on Wednesday, September 18th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of Moderate Buy and an average target price of $96.04.

NIKE Trading Down 1.2 %

NIKE stock opened at $82.11 on Monday. The business has a 50-day simple moving average of $80.71 and a two-hundred day simple moving average of $86.36. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market cap of $123.93 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 earnings per share. Analysts predict that NIKE will post 3.04 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC grew its stake in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC grew its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Core Wealth Advisors Inc. increased its holdings in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC bought a new stake in NIKE during the 4th quarter valued at $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 64.25% 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.