UBS Group Raises NIKE (NYSE:NKE) Price Target to $82.00

NIKE (NYSE:NKE) had its price target upped by UBS Group from $78.00 to $82.00 in a report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the footwear maker’s stock.

A number of other research firms have also weighed in on NKE. Royal Bank of Canada boosted their target price on shares of NIKE from $75.00 to $85.00 and gave the stock a sector perform rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on NIKE from $86.00 to $95.00 and gave the stock an overweight rating in a research report on Friday, September 20th. Telsey Advisory Group lowered their target price on NIKE from $100.00 to $96.00 and set an outperform rating on the stock in a report on Wednesday. Wedbush cut their price target on NIKE from $115.00 to $97.00 and set an outperform rating for the company in a report on Friday, June 28th. Finally, Williams Trading raised NIKE from a sell rating to a buy rating and increased their price objective for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $96.04.

NIKE Stock Up 0.2 %

Shares of NKE stock opened at $82.26 on Wednesday. The company has a market capitalization of $124.15 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock’s 50 day simple moving average is $80.90 and its 200 day simple moving average is $86.24. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39.

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

NIKE Announces Dividend

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

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s 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 directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s 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 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 disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Annapolis Financial Services LLC increased its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC increased its position in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new stake in NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. raised its holdings in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new position in NIKE during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.