NIKE (NYSE:NKE) Price Target Raised to $84.00 at Barclays

NIKE (NYSE:NKE) had its price objective hoisted by Barclays from $80.00 to $84.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the footwear maker’s stock.

A number of other equities analysts have also commented on NKE. The Goldman Sachs Group reduced their price objective on NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $115.00 to $92.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. Bank of America lowered their price objective on shares of NIKE from $113.00 to $104.00 and set a buy rating for the company in a research report on Friday, June 28th. BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Finally, TD Cowen decreased their price target on shares of NIKE from $75.00 to $71.00 and set a hold rating on the stock in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $96.15.

NIKE Trading Up 6.9 %

Shares of NKE stock opened at $86.55 on Wednesday. The company has a market capitalization of $130.64 billion, a P/E ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $78.11 and a 200 day moving average price of $87.14.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Research analysts forecast that NIKE will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.71%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Annapolis Financial Services LLC grew its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at about $33,000. Core Wealth Advisors Inc. raised its stake in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $36,000. Institutional investors own 64.25% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services 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.