NIKE (NYSE:NKE) Given New $100.00 Price Target at Bank of America

NIKE (NYSE:NKE) had its price target reduced by Bank of America from $104.00 to $100.00 in a report released on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the footwear maker’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $83.00 to $80.00 and set a neutral rating for the company in a report on Monday, September 23rd. Raymond James restated a market perform rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler reaffirmed a neutral rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the stock an overweight rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group raised their price objective on NIKE from $80.00 to $85.00 and gave the company a hold rating in a research report on Monday, September 30th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $96.04.

NIKE Stock Performance

Shares of NYSE:NKE opened at $82.25 on Wednesday. The firm’s 50 day simple moving average is $80.90 and its 200-day simple moving average is $86.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $124.14 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, equities analysts predict that NIKE will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.80%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other 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 value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its position in NIKE by 2.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 524,145 shares of the footwear maker’s stock worth $46,334,000 after purchasing an additional 12,020 shares in the last quarter. Mirador Capital Partners LP boosted its holdings in NIKE by 18.1% during the third quarter. Mirador Capital Partners LP now owns 42,975 shares of the footwear maker’s stock worth $3,799,000 after buying an additional 6,595 shares in the last quarter. Peoples Bank KS grew its position in NIKE by 43.6% during the third quarter. Peoples Bank KS now owns 7,020 shares of the footwear maker’s stock valued at $621,000 after buying an additional 2,130 shares during the period. LifePlan Financial LLC increased its holdings in NIKE by 33.7% in the third quarter. LifePlan Financial LLC now owns 7,431 shares of the footwear maker’s stock valued at $657,000 after buying an additional 1,872 shares in the last quarter. Finally, Rockland Trust Co. raised its position in shares of NIKE by 7.3% in the third quarter. Rockland Trust Co. now owns 202,970 shares of the footwear maker’s stock worth $17,943,000 after acquiring an additional 13,721 shares during the period. 64.25% of the stock is currently owned by hedge funds and other 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.