NIKE (NYSE:NKE) Price Target Raised to $84.00

NIKE (NYSE:NKE) had its price target hoisted by Barclays from $80.00 to $84.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the footwear maker’s stock.

Several other analysts also recently issued reports on NKE. Truist Financial cut their target price on shares of NIKE from $99.00 to $81.00 and set a hold rating on the stock in a research note on Friday, June 28th. UBS Group reissued a neutral rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. Royal Bank of Canada lowered their target price on NIKE from $100.00 to $75.00 and set a sector perform rating on the stock in a research note on Tuesday, July 2nd. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a hold rating for the company in a research report on Monday, August 26th. Finally, Daiwa America cut shares of NIKE from a moderate buy rating to a hold rating in a report on Wednesday, September 11th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of Moderate Buy and an average target price of $96.15.

NIKE Trading Up 6.9 %

NYSE:NKE opened at $86.55 on Wednesday. The stock has a fifty day simple moving average of $78.11 and a 200 day simple moving average of $87.14. The firm has a market capitalization of $130.64 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.08 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 quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts forecast that NIKE will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors lifted its stake in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD acquired a new stake in NIKE during the first quarter valued at approximately $533,533,000. Capital World Investors grew its stake in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. 64.25% of the stock is owned by 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.