NIKE (NYSE:NKE) Price Target Increased to $82.00 by Analysts at UBS Group

by · The Markets Daily

NIKE (NYSE:NKE – Free Report) had its price target lifted by UBS Group from $78.00 to $82.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the footwear maker’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company increased their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an overweight rating in a report on Friday, September 20th. StockNews.com cut NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. JPMorgan Chase & Co. lowered their target price on NIKE from $83.00 to $80.00 and set a neutral rating for the company in a research note on Monday, September 23rd. Barclays increased their price target on NIKE from $80.00 to $84.00 and gave the company an equal weight rating in a research report on Wednesday, September 18th. Finally, Guggenheim lowered their price objective on NIKE from $130.00 to $115.00 and set a buy rating for the company in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, NIKE has a consensus rating of Moderate Buy and a consensus price target of $96.04.

Get Our Latest Research Report on NIKE

NIKE Trading Up 0.2 %

Shares of NYSE NKE opened at $82.25 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock 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 twelve month low of $70.75 and a twelve month high of $123.39. The stock has a fifty day simple moving average of $80.90 and a 200-day simple moving average of $86.15.

NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The company 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%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. On average, equities analysts forecast that NIKE will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued 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 dividend yield of 1.80%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling

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 transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in the first 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 in the last quarter. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the 4th quarter worth $33,000. Core Wealth Advisors Inc. grew its stake in shares of 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 period. Finally, Pineridge Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

(Get Free Report)

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.

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