Brokerages Set NIKE, Inc. (NYSE:NKE) Price Target at $87.38

NIKE, Inc. (NYSE:NKE) has been assigned an average rating of “Moderate Buy” from the thirty-two research firms that are covering the firm, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $87.38.

A number of research analysts have weighed in on NKE shares. Wells Fargo & Company cut their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, March 21st. UBS Group cut their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating for the company. Finally, Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

Large investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new position in NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the third quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new stake in NIKE during the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $65.87 on Tuesday. The firm has a market capitalization of $97.42 billion, a P/E ratio of 20.33, a PEG ratio of 2.52 and a beta of 1.02. The stock has a 50-day simple moving average of $74.31 and a two-hundred day simple moving average of $77.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE has a fifty-two week low of $64.95 and a fifty-two week high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities analysts forecast that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.43%. NIKE’s payout ratio is 53.16%.

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.