Brokerages Set NIKE, Inc. (NYSE:NKE) Price Target at $89.58

Shares of NIKE, Inc. (NYSE:NKE) have earned a consensus recommendation of “Moderate Buy” from the thirty brokerages that are currently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $89.96.

Several brokerages recently weighed in on NKE. Evercore ISI cut their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Barclays dropped their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of large investors have recently modified their holdings of NKE. Strategic Financial Concepts LLC bought a new position in NIKE during the second quarter worth about $48,000. Quest Partners LLC lifted its holdings in NIKE by 132.8% during the second quarter. Quest Partners LLC now owns 8,273 shares of the footwear maker’s stock worth $624,000 after acquiring an additional 4,720 shares in the last quarter. PFG Investments LLC grew its stake in NIKE by 5.4% in the second quarter. PFG Investments LLC now owns 8,908 shares of the footwear maker’s stock valued at $671,000 after acquiring an additional 453 shares during the period. Choreo LLC grew its stake in NIKE by 140.7% in the second quarter. Choreo LLC now owns 36,260 shares of the footwear maker’s stock valued at $2,779,000 after acquiring an additional 21,194 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in shares of NIKE by 21.7% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 13,766 shares of the footwear maker’s stock valued at $1,038,000 after purchasing an additional 2,458 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.0 %

NKE opened at $71.31 on Thursday. The business has a 50 day simple moving average of $76.29 and a 200-day simple moving average of $78.36. NIKE has a 12 month low of $70.75 and a 12 month high of $107.43. The stock has a market capitalization of $105.48 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts anticipate that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.