NIKE (NYSE:NKE) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of NIKE (NYSE:NKE) in a research note issued to investors on Friday, Marketbeat reports. The firm issued a buy rating and a $84.00 price target on the footwear maker’s stock.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Robert W. Baird upped their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Bank of America lowered their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

NIKE Stock Up 3.1 %

Shares of NIKE stock opened at $77.40 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a market cap of $116.05 billion, a P/E ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03. The company’s fifty day simple moving average is $80.51 and its two-hundred day simple moving average is $82.67.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. NIKE’s revenue was down 10.4% on a year-over-year basis. Research analysts anticipate that NIKE will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 42.41%.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC raised its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares during the last quarter. Stephens Consulting LLC grew its stake in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares in the last quarter. PSI Advisors LLC increased its holdings in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the last quarter. Chapin Davis Inc. lifted its stake in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its holdings in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the last quarter. 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.