NIKE (NYSE:NKE) Price Target Raised to $110.00

NIKE (NYSE:NKE) had its target price raised by Robert W. Baird from $100.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the footwear maker’s stock.

Other equities research analysts have also issued research reports about the stock. Sanford C. Bernstein dropped their price target on shares of NIKE from $112.00 to $109.00 and set an outperform rating on the stock in a research note on Thursday. Raymond James reiterated a market perform rating on shares of NIKE in a research report on Friday, June 28th. Wedbush reduced their target price on NIKE from $115.00 to $97.00 and set an outperform rating for the company in a report on Friday, June 28th. KeyCorp reissued a sector weight rating on shares of NIKE in a research report on Friday, June 28th. Finally, Daiwa America downgraded NIKE from a moderate buy rating to a hold rating in a report on Wednesday, September 11th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $96.15.

NIKE Stock Performance

NYSE NKE opened at $86.52 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market capitalization of $130.59 billion, a P/E ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. The business’s 50-day simple moving average is $78.11 and its 200-day simple moving average is $86.99.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Equities analysts predict that NIKE will post 3.06 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction 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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several institutional investors have recently made changes to their positions in NKE. Beta Wealth Group Inc. increased its position in shares of NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after buying an additional 101 shares in the last quarter. Kampmann Melissa S. increased its holdings in NIKE by 0.8% in the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares in the last quarter. Ascent Wealth Partners LLC raised its position in NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares during the period. Condor Capital Management lifted its holdings in NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its position in shares of NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.