NIKE (NYSE:NKE) PT Raised to $78.00 at TD Cowen

NIKE (NYSE:NKE) had its target price increased by TD Cowen from $71.00 to $78.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the footwear maker’s stock.

Several other equities research analysts have also issued reports on NKE. The Goldman Sachs Group reduced their target price on shares of NIKE from $118.00 to $105.00 and set a buy rating for the company in a report on Friday, June 28th. Truist Financial decreased their price objective on shares of NIKE from $85.00 to $83.00 and set a hold rating on the stock in a research report on Wednesday. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an outperform rating for the company in a report on Thursday, September 19th. UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on NIKE from $80.00 to $77.00 and set a neutral rating on the stock in a research report on Wednesday. Fifteen 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 currently has an average rating of Moderate Buy and an average target price of $96.04.

NIKE Stock Up 0.2 %

NKE opened at $82.25 on Wednesday. The firm’s 50 day simple moving average is $80.90 and its two-hundred day simple moving average is $86.15. The company has a market capitalization of $124.14 billion, a PE ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. NIKE’s dividend payout ratio is presently 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 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 owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. 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 110,000 shares of the business’s stock in a transaction on 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 $80,419,507.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on 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 approximately $80,435,628. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the period. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the first quarter valued at approximately $533,533,000. Capital World Investors grew its stake in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Jennison Associates LLC increased its holdings in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the period. Finally, PineStone Asset Management Inc. raised its position in NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

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.