Analysts Set NIKE, Inc. (NYSE:NKE) Price Target at $96.30

NIKE, Inc. (NYSE:NKE) has received an average recommendation of “Moderate Buy” from the thirty brokerages that are covering the stock, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $95.86.

NKE has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Bank of America cut their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd.

NIKE Trading Up 3.1 %

NYSE:NKE opened at $77.40 on Wednesday. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a 50 day moving average of $80.51 and a 200 day moving average of $82.52. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its 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 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 analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter valued at $30,000. Transcendent Capital Group LLC lifted its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in NIKE during the second quarter valued at $44,000. 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.