NIKE (NYSE:NKE) PT Raised to $110.00

NIKE (NYSE:NKE) had its price target hoisted by Robert W. Baird from $100.00 to $110.00 in a research report released on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the footwear maker’s stock.

A number of other equities research analysts have also recently weighed in on NKE. Bank of America reduced their price objective on NIKE from $113.00 to $104.00 and set a buy rating for the company in a research note on Friday, June 28th. HSBC decreased their price target on shares of NIKE from $100.00 to $90.00 and set a hold rating for the company in a research note on Friday, June 28th. Raymond James restated a market perform rating on shares of NIKE in a research note on Friday, June 28th. Piper Sandler reiterated a neutral rating and set a $80.00 target price on shares of NIKE in a research note on Friday, August 23rd. Finally, Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a hold rating on the stock in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $96.04.

NIKE Trading Down 0.4 %

NYSE NKE opened at $86.19 on Friday. The firm’s fifty day moving average price is $78.40 and its 200 day moving average price is $86.90. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market capitalization of $130.08 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that NIKE will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In other news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a 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 sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

Institutional investors have recently made changes to their positions in the stock. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the 4th 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 in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in shares of NIKE in the fourth quarter valued at approximately $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.