TD Cowen Boosts NIKE (NYSE:NKE) Price Target to $78.00

NIKE (NYSE:NKE) had its price target boosted by TD Cowen from $71.00 to $78.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a hold rating on the footwear maker’s stock.

Several other analysts also recently issued reports on NKE. Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an outperform rating on the stock in a research note on Wednesday. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an equal weight rating in a report on Wednesday, September 25th. Williams Trading raised shares of NIKE from a sell rating to a buy rating and raised their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Daiwa America cut shares of NIKE from a moderate buy rating to a hold rating in a research note on Wednesday, September 11th. Finally, Guggenheim cut their price objective on NIKE from $130.00 to $115.00 and set a buy rating for the company in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $96.04.

NIKE Trading Up 0.2 %

NIKE stock opened at $82.26 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market capitalization of $124.15 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. The firm has a 50 day moving average of $80.90 and a 200 day moving average of $86.24.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given 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 payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction 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 $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its position in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC boosted its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. raised its stake in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

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.