Cowen Analysts Give Nike (NKE) a $80.00 Price Target

Cowen set a $80.00 price objective on Nike (NYSE:NKE) in a research note published on Friday. The brokerage currently has a hold rating on the footwear maker’s stock.

Other analysts also recently issued research reports about the company. Morgan Stanley set a $88.00 price objective on Nike and gave the stock a buy rating in a research note on Wednesday, September 19th. Canaccord Genuity set a $95.00 price objective on Nike and gave the stock a buy rating in a research note on Tuesday, September 18th. Piper Jaffray Companies set a $93.00 price objective on Nike and gave the stock a buy rating in a research note on Monday, September 17th. Goldman Sachs Group set a $81.00 price target on Nike and gave the company a buy rating in a research note on Thursday, September 20th. Finally, Guggenheim lifted their price target on Nike to $100.00 and gave the company a buy rating in a research note on Thursday, September 20th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Nike currently has an average rating of Buy and an average target price of $83.14.

Shares of Nike stock opened at $76.04 on Friday. The firm has a market cap of $121.63 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69. Nike has a 12 month low of $62.09 and a 12 month high of $86.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, analysts expect that Nike will post 2.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd were issued a dividend of $0.22 per share. The ex-dividend date was Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.16%. This is a boost from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio (DPR) is presently 36.36%.

In related news, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares in the company, valued at $124,361,745.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Global Trust Asset Management LLC lifted its position in Nike by 68.2% during the fourth quarter. Global Trust Asset Management LLC now owns 2,960 shares of the footwear maker’s stock worth $219,000 after acquiring an additional 1,200 shares during the last quarter. YHB Investment Advisors Inc. lifted its position in Nike by 9.8% during the fourth quarter. YHB Investment Advisors Inc. now owns 107,169 shares of the footwear maker’s stock worth $7,946,000 after acquiring an additional 9,535 shares during the last quarter. Abner Herrman & Brock LLC lifted its position in Nike by 196.0% during the fourth quarter. Abner Herrman & Brock LLC now owns 136,463 shares of the footwear maker’s stock worth $10,117,000 after acquiring an additional 90,365 shares during the last quarter. New England Research & Management Inc. lifted its position in Nike by 103.6% during the fourth quarter. New England Research & Management Inc. now owns 17,835 shares of the footwear maker’s stock worth $1,322,000 after acquiring an additional 9,075 shares during the last quarter. Finally, First Hawaiian Bank lifted its position in Nike by 71.3% during the fourth quarter. First Hawaiian Bank now owns 32,143 shares of the footwear maker’s stock worth $2,383,000 after acquiring an additional 13,380 shares during the last quarter. Hedge funds and other institutional investors own 63.99% of the company’s stock.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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