NIKE (NYSE:NKE) Price Target Raised to $85.00

NIKE (NYSE:NKE) had its price target boosted by Truist Financial from $81.00 to $85.00 in a research report released on Friday, Benzinga reports. Truist Financial currently has a hold rating on the footwear maker’s stock.

NKE has been the subject of a number of other research reports. JPMorgan Chase & Co. restated a neutral rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a buy rating for the company in a report on Friday, June 28th. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an outperform rating in a report on Friday. Daiwa America cut shares of NIKE from a moderate buy rating to a hold rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lowered their target price on shares of NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $96.15.

NIKE Stock Up 6.8 %

Shares of NIKE stock opened at $86.52 on Friday. The stock has a market capitalization of $130.59 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a 50-day simple moving average of $78.11 and a two-hundred day simple moving average of $86.99. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39.

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 the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts anticipate that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Hedge funds have recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC lifted its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at about $33,000. Finally, Gold Investment Management Ltd. bought a new position in shares of NIKE in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.