NIKE (NYSE:NKE) Given New $105.00 Price Target at Evercore ISI

05 Oct 2024, 22:41 by Sarita Garza · The Markets Daily

NIKE (NYSE:NKE – Free Report) had its price objective decreased by Evercore ISI from $110.00 to $105.00 in a research report released on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the footwear maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Truist Financial dropped their target price on NIKE from $85.00 to $83.00 and set a hold rating on the stock in a report on Wednesday. UBS Group boosted their price target on shares of NIKE from $78.00 to $82.00 and gave the company a neutral rating in a report on Wednesday. HSBC cut their target price on shares of NIKE from $100.00 to $90.00 and set a hold rating for the company in a research report on Friday, June 28th. Barclays increased their target price on shares of NIKE from $80.00 to $84.00 and gave the company an equal weight rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company increased their target price on shares of NIKE from $86.00 to $95.00 and gave the company an overweight rating in a research note on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $96.04.

Check Out Our Latest Research Report on NIKE

NIKE Trading Up 0.2 %

Shares of NKE opened at $82.26 on Wednesday. The stock’s fifty day simple moving average is $80.90 and its 200 day simple moving average is $86.24. 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 has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market capitalization of $124.15 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly 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 business had revenue of $11.59 billion during 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 company’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 earnings per share. On average, equities research analysts forecast that NIKE will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors have recently added to or reduced their stakes in NKE. Eagle Asset Management Inc. lifted its position in NIKE by 19.2% in the 4th quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock valued at $849,000 after acquiring an additional 1,257 shares in the last quarter. Jones Financial Companies Lllp increased its stake in NIKE by 3.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,662 shares of the footwear maker’s stock valued at $398,000 after buying an additional 126 shares during the last quarter. Belpointe Asset Management LLC increased its stake in NIKE by 35.6% in the 4th quarter. Belpointe Asset Management LLC now owns 3,254 shares of the footwear maker’s stock valued at $353,000 after buying an additional 855 shares during the last quarter. Morningstar Investment Management LLC acquired a new stake in NIKE in the 4th quarter valued at $375,000. Finally, Cetera Advisor Networks LLC increased its stake in NIKE by 8.9% in the 4th quarter. Cetera Advisor Networks LLC now owns 111,481 shares of the footwear maker’s stock valued at $12,103,000 after buying an additional 9,131 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

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