Piper Sandler Boosts NIKE (NYSE:NKE) Price Target to $153.00

NIKE (NYSE:NKE) had its target price boosted by Piper Sandler from $148.00 to $153.00 in a research report released on Thursday morning, The Fly reports. Piper Sandler currently has an overweight rating on the footwear maker’s stock. Piper Sandler also issued estimates for NIKE’s Q2 2021 earnings at $0.56 EPS, FY2021 earnings at $2.85 EPS, Q1 2022 earnings at $1.04 EPS, Q2 2022 earnings at $0.90 EPS, FY2022 earnings at $3.60 EPS and FY2023 earnings at $4.38 EPS.

NKE has been the subject of a number of other reports. Morgan Stanley boosted their target price on NIKE from $121.00 to $142.00 and gave the company an overweight rating in a research report on Friday, September 18th. Guggenheim boosted their target price on NIKE from $150.00 to $165.00 and gave the company a buy rating in a research report on Wednesday, September 23rd. DZ Bank reaffirmed a sell rating on shares of NIKE in a research report on Friday, June 26th. Raymond James lifted their price target on NIKE from $115.00 to $121.00 and gave the company an outperform rating in a research note on Friday, September 18th. Finally, Barclays reiterated a buy rating and set a $150.00 price target on shares of NIKE in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $137.03.

NKE stock opened at $128.00 on Thursday. The stock has a 50-day moving average price of $120.42 and a 200-day moving average price of $101.42. NIKE has a 1-year low of $60.00 and a 1-year high of $131.34. The company has a current ratio of 2.55, a quick ratio of 1.77 and a debt-to-equity ratio of 1.02. The firm has a market cap of $199.67 billion, a PE ratio of 76.65, a price-to-earnings-growth ratio of 2.80 and a beta of 0.80.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.49. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The firm had revenue of $10.59 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the company posted $0.27 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts forecast that NIKE will post 2.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, August 31st were issued a dividend of $0.245 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a yield of 0.77%. NIKE’s payout ratio is 52.97%.

In other NIKE news, CAO Hilary K. Krane sold 11,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $129.53, for a total transaction of $1,424,830.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew Campion sold 56,313 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $98.56, for a total transaction of $5,550,209.28. The disclosure for this sale can be found here. Insiders have sold a total of 841,962 shares of company stock worth $103,292,012 in the last three months. Insiders own 3.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. IBM Retirement Fund increased its holdings in shares of NIKE by 35.1% in the third quarter. IBM Retirement Fund now owns 42,650 shares of the footwear maker’s stock worth $5,354,000 after purchasing an additional 11,074 shares during the period. Highland Capital Management LLC increased its holdings in shares of NIKE by 3.3% in the third quarter. Highland Capital Management LLC now owns 71,997 shares of the footwear maker’s stock worth $9,038,000 after purchasing an additional 2,329 shares during the period. S.E.E.D. Planning Group LLC bought a new position in shares of NIKE in the third quarter worth $247,000. Granite Investment Advisors LLC increased its holdings in shares of NIKE by 0.6% in the third quarter. Granite Investment Advisors LLC now owns 32,901 shares of the footwear maker’s stock worth $4,130,000 after purchasing an additional 205 shares during the period. Finally, Clean Yield Group increased its holdings in shares of NIKE by 5.7% in the third quarter. Clean Yield Group now owns 2,409 shares of the footwear maker’s stock worth $302,000 after purchasing an additional 130 shares during the period. 64.20% of the stock is currently owned by institutional investors and hedge funds.

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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