Nike (NYSE:NKE) PT Set at $83.00 by Goldman Sachs Group

Goldman Sachs Group set a $83.00 price target on Nike (NYSE:NKE) in a research report report published on Thursday morning, Borsen Zeitung reports. The firm currently has a neutral rating on the footwear maker’s stock.

NKE has been the subject of several other reports. Wedbush restated an outperform rating and set a $96.00 target price on shares of Nike in a research report on Tuesday, September 10th. Morgan Stanley boosted their target price on Nike from $103.00 to $108.00 and gave the stock an overweight rating in a research report on Tuesday, August 6th. Deutsche Bank set a $100.00 target price on Nike and gave the stock a buy rating in a research report on Wednesday, July 10th. Zacks Investment Research upgraded Nike from a sell rating to a hold rating and set a $95.00 target price for the company in a research report on Monday, May 27th. Finally, Pivotal Research set a $101.00 price objective on Nike and gave the company a buy rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $90.29.

Nike stock opened at $86.68 on Thursday. The firm has a market capitalization of $137.42 billion, a P/E ratio of 34.81, a PEG ratio of 2.33 and a beta of 0.79. Nike has a 1 year low of $66.53 and a 1 year high of $90.00. The business has a 50-day moving average of $83.80 and a 200-day moving average of $84.78. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38.

Nike (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The company had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. Nike’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Research analysts anticipate that Nike will post 2.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s payout ratio is 35.34%.

In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the sale, the director now owns 38,813 shares in the company, valued at approximately $3,292,894.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elliott Hill sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. Insiders sold a total of 203,708 shares of company stock worth $17,556,051 in the last 90 days. Company insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HCR Wealth Advisors raised its stake in shares of Nike by 1.8% during the 2nd quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock worth $1,174,000 after purchasing an additional 250 shares in the last quarter. FMR LLC raised its stake in shares of Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after purchasing an additional 4,908,916 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Nike by 25.7% during the 2nd quarter. Bank of Nova Scotia now owns 375,971 shares of the footwear maker’s stock worth $30,799,000 after purchasing an additional 76,852 shares in the last quarter. Chicago Capital LLC raised its stake in shares of Nike by 33.8% during the 2nd quarter. Chicago Capital LLC now owns 14,988 shares of the footwear maker’s stock worth $1,258,000 after purchasing an additional 3,789 shares in the last quarter. Finally, Whitener Capital Management Inc. raised its stake in shares of Nike by 9.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 34,586 shares of the footwear maker’s stock worth $2,903,000 after purchasing an additional 2,950 shares in the last quarter. Hedge funds and other institutional investors own 65.04% of the company’s stock.

Nike Company Profile

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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