NIKE (NYSE:NKE) Given New $82.00 Price Target at Morgan Stanley

NIKE (NYSE:NKE) had its price target raised by Morgan Stanley from $79.00 to $82.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the footwear maker’s stock.

A number of other equities analysts have also recently weighed in on NKE. Telsey Advisory Group reaffirmed an outperform rating and issued a $100.00 price target on shares of NIKE in a report on Friday, September 20th. BMO Capital Markets decreased their target price on NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Evercore ISI lifted their price target on shares of NIKE from $105.00 to $110.00 and gave the company an outperform rating in a research note on Friday, September 20th. Wedbush reduced their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research report on Friday, June 28th. Finally, StockNews.com lowered shares of NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $96.52.

NIKE Price Performance

NYSE:NKE opened at $89.44 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a 50 day moving average price of $79.67 and a 200-day moving average price of $86.67. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market cap of $135.00 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts forecast that NIKE will post 3.04 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On NIKE

Institutional investors have recently bought and sold shares of the company. Annapolis Financial Services LLC grew its stake in shares of 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 acquiring an additional 220 shares in the last quarter. True Wealth Design LLC boosted its holdings in NIKE by 106.4% in the fourth 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 period. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth $33,000. Core Wealth Advisors Inc. increased its holdings 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 purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the 4th quarter valued at about $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.