NIKE (NYSE:NKE) Price Target Raised to $110.00 at Evercore ISI

NIKE (NYSE:NKE) had its price objective lifted by Evercore ISI from $105.00 to $110.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

Several other research firms have also issued reports on NKE. Wedbush dropped their price target 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. Jefferies Financial Group dropped their target price on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Morgan Stanley restated an equal weight rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a $92.00 price target on shares of NIKE in a research report on Friday. Finally, Sanford C. Bernstein cut their price objective on NIKE from $112.00 to $109.00 and set an outperform rating for the company in a report on Thursday, September 19th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE has an average rating of Moderate Buy and a consensus target price of $96.04.

NIKE Trading Down 0.4 %

NIKE stock opened at $86.19 on Friday. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a market cap of $130.08 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The business has a 50 day moving average price of $78.40 and a two-hundred day moving average price of $86.90. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly 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. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities analysts forecast that NIKE will post 3.06 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. NIKE’s payout ratio is presently 39.68%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on 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 completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other NIKE 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 value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the period. Capital International Investors raised its stake in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Legal & General Group Plc lifted its holdings in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after acquiring an additional 211,360 shares during the period. 64.25% 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, 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.