Nike (NKE) Price Target Raised to $95.00

Nike (NYSE:NKE) had its price target raised by Telsey Advisory Group from $92.00 to $95.00 in a research report sent to investors on Monday, MarketBeat reports. Telsey Advisory Group currently has an outperform rating on the footwear maker’s stock.

NKE has been the topic of a number of other research reports. Zacks Investment Research lowered Nike from a hold rating to a sell rating in a research report on Tuesday, November 27th. Wedbush increased their price target on Nike from $90.00 to $96.00 and gave the company an outperform rating in a research report on Thursday, March 14th. Macquarie set a $98.00 price target on Nike and gave the company a buy rating in a research report on Tuesday, November 20th. UBS Group increased their price target on Nike from $77.00 to $78.00 and gave the company a neutral rating in a research report on Friday, December 21st. Finally, Stifel Nicolaus reaffirmed a buy rating on shares of Nike in a research report on Thursday, December 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $86.76.

Shares of Nike stock opened at $86.69 on Monday. Nike has a 12 month low of $63.21 and a 12 month high of $88.59. The stock has a market cap of $138.21 billion, a P/E ratio of 35.82, a PEG ratio of 2.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40.

Nike (NYSE:NKE) last announced its earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period last year, the business posted $0.46 EPS. Nike’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts expect that Nike will post 2.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, March 1st. Nike’s dividend payout ratio (DPR) is presently 36.36%.

In other news, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the sale, the executive vice president now owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Insiders have sold a total of 816,500 shares of company stock worth $63,317,465 in the last three months. Corporate insiders own 3.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Nike by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after buying an additional 1,207,986 shares during the last quarter. Vanguard Group Inc grew its stake in Nike by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after buying an additional 1,207,986 shares during the last quarter. BlackRock Inc. grew its stake in Nike by 4.3% during the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after buying an additional 3,592,186 shares during the last quarter. Capital Research Global Investors grew its stake in Nike by 0.7% during the 3rd quarter. Capital Research Global Investors now owns 54,349,821 shares of the footwear maker’s stock worth $4,604,517,000 after buying an additional 354,981 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Nike by 6,517.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock worth $476,000 after buying an additional 34,749,961 shares during the last quarter. Hedge funds and other institutional investors own 64.77% 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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