NIKE (NYSE:NKE) PT Raised to $82.00

NIKE (NYSE:NKE) had its price target upped by UBS Group from $78.00 to $82.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the footwear maker’s stock.

Other analysts have also recently issued research reports about the stock. TD Cowen lowered their price objective on shares of NIKE from $75.00 to $71.00 and set a hold rating for the company in a research report on Thursday, July 25th. Williams Trading raised NIKE from a sell rating to a buy rating and raised their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Barclays boosted their price objective on NIKE from $80.00 to $84.00 and gave the company an equal weight rating in a research report on Wednesday, September 18th. The Goldman Sachs Group dropped their target price on shares of NIKE from $118.00 to $105.00 and set a buy rating on the stock in a report on Friday, June 28th. Finally, Raymond James reiterated a market perform rating on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of Moderate Buy and an average target price of $96.04.

NIKE Trading Up 0.2 %

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

NIKE (NYSE:NKE) last announced its quarterly 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. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business posted $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. Research analysts forecast that NIKE will post 3.04 EPS for the current year.

NIKE Announces Dividend

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

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction 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 completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. 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 and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Longview Partners Guernsey LTD bought a new stake in shares of NIKE in the first quarter valued at approximately $533,533,000. Capital World Investors boosted its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the period. Jennison Associates LLC grew its position in NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after buying an additional 2,775,510 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its holdings in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.