NIKE (NYSE:NKE) Price Target Raised to $95.00

NIKE (NYSE:NKE) had its price objective upped by BMO Capital Markets from $92.00 to $95.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

Several other equities research analysts have also recently weighed in on NKE. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Finally, Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Trading Down 2.8 %

NYSE NKE opened at $74.60 on Monday. The firm has a market cap of $110.34 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE has a 1-year low of $70.32 and a 1-year high of $107.43. The stock has a 50-day moving average of $75.53 and a 200-day moving average of $78.12. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. As a group, sell-side analysts forecast that NIKE will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. NIKE’s payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Range Financial Group LLC bought a new position in NIKE during the 4th quarter valued at about $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE during the fourth quarter valued at approximately $5,384,000. FNY Investment Advisers LLC boosted its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Finally, Eagle Rock Investment Company LLC grew its position in NIKE by 49.2% in the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after purchasing an additional 19,991 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Company Profile

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.