NIKE (NYSE:NKE – Get Rating) had its price target boosted by Wells Fargo & Company from $135.00 to $146.00 in a report issued on Thursday, The Fly reports. They currently have an overweight rating on the footwear maker's stock.
A number of other research analysts have also recently commented on the stock. Royal Bank of Canada set a $130.00 target price on shares of NIKE in a report on Tuesday, January 17th. Cowen raised their target price on shares of NIKE from $114.00 to $118.00 in a research report on Tuesday, November 22nd. Raymond James upped their price target on shares of NIKE from $99.00 to $130.00 and gave the stock an outperform rating in a report on Wednesday, December 21st. JPMorgan Chase & Co. upped their price target on shares of NIKE from $128.00 to $156.00 and gave the stock an overweight rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of NIKE from $126.00 to $133.00 and gave the stock a buy rating in a report on Wednesday, December 21st. Twelve equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $129.18.
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NIKE Trading Up 0.6 %
NKE opened at $127.53 on Thursday. The stock has a market capitalization of $197.74 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 4.26 and a beta of 1.09. The company has a quick ratio of 1.78, a current ratio of 2.69 and a debt-to-equity ratio of 0.58. NIKE has a twelve month low of $82.22 and a twelve month high of $149.68. The company has a 50-day simple moving average of $115.47 and a 200 day simple moving average of $106.93.
NIKE (NYSE:NKE – Get Rating) last announced its quarterly earnings data on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.20. NIKE had a net
margin of 11.47% and a return on equity of 36.83%. The business had revenue of $13.32 billion for the quarter, compared to analysts' expectations of $12.61 billion. Analysts predict that NIKE will post 3.11 EPS for the current fiscal year.
NIKE Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 28th. Stockholders of record on Monday, December 5th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, December 2nd. This represents a $1.36 annualized dividend and a dividend yield of 1.07%. This is a positive change from NIKE's previous quarterly dividend of $0.31. NIKE's dividend payout ratio is currently 38.31%.
Insider Activity
In other news, EVP Monique S. Matheson sold 10,000 shares of the company's stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $108.16, for a total transaction of $1,081,600.00. Following the transaction, the executive vice president now owns 60,213 shares in the company, valued at $6,512,638.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Monique S. Matheson sold 10,000 shares of the company's stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $108.16, for a total transaction of $1,081,600.00. Following the transaction, the executive vice president now owns 60,213 shares in the company, valued at $6,512,638.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of the company's stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $115.83, for a total transaction of $579,150.00. Following the completion of the sale, the executive vice president now owns 60,213 shares in the company, valued at approximately $6,974,471.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,882 shares of company stock worth $2,831,011. Company insiders own 0.40% of the company's stock.
Institutional Investors Weigh In On NIKE
A number of institutional investors and hedge funds have recently made changes to their positions in NKE. BCK Partners Inc. purchased a new stake in NIKE in the 1st quarter valued at about $2,839,000. Loomis Sayles & Co. L P increased its stake in NIKE by 138.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker's stock valued at $1,511,000 after buying an additional 6,518 shares during the last quarter. Merit Financial Group LLC increased its stake in NIKE by 13.3% in the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker's stock valued at $214,000 after buying an additional 186 shares during the last quarter. Bridgewater Associates LP purchased a new stake in NIKE in the 1st quarter valued at about $278,000. Finally, Federated Hermes Inc. increased its stake in NIKE by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker's stock valued at $58,392,000 after buying an additional 38,903 shares during the last quarter. Institutional investors and hedge funds own 63.20% of the company's stock.
About NIKE
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.
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