Evercore ISI Increases NIKE (NYSE:NKE) Price Target to $110.00

NIKE (NYSE:NKE) had its target price hoisted by Evercore ISI from $105.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the footwear maker’s stock.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Bank of America decreased their target price on NIKE from $113.00 to $104.00 and set a buy rating on the stock in a research report on Friday, June 28th. Truist Financial cut their price target on shares of NIKE from $99.00 to $81.00 and set a hold rating for the company in a report on Friday, June 28th. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a report on Friday, June 28th. Finally, Williams Trading raised shares of NIKE from a sell rating to a buy rating and boosted their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $96.15.

NIKE Trading Up 6.8 %

NIKE stock opened at $86.52 on Friday. 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 firm has a market cap of $130.59 billion, a PE ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. The stock’s 50 day simple moving average is $78.11 and its two-hundred day simple moving average is $86.99. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. Analysts anticipate that NIKE will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

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

Insiders Place Their Bets

In other news, 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently modified their holdings of the company. 9258 Wealth Management LLC increased its stake in NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after buying an additional 842 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after acquiring an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC increased its position in shares of NIKE by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after acquiring an additional 166 shares during the period. GW&K Investment Management LLC raised its stake in shares of NIKE by 26.4% in the fourth quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after acquiring an additional 126 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of NIKE by 6.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock valued at $13,767,000 after acquiring an additional 7,769 shares in the last quarter. Hedge funds and other institutional investors 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.