Nike (NKE) PT Raised to $96.00 at Wedbush

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Nike (NYSE:NKE) had its price target boosted by Wedbush from $90.00 to $96.00 in a research note published on Thursday, The Fly reports. The firm currently has an outperform rating on the footwear maker’s stock.

A number of other equities research analysts have also issued reports on NKE. Zacks Investment Research lowered shares of Nike from a hold rating to a sell rating in a report on Tuesday, November 27th. Macquarie set a $98.00 target price on shares of Nike and gave the stock a buy rating in a report on Tuesday, November 20th. UBS Group upped their target price on shares of Nike from $77.00 to $78.00 and gave the stock a neutral rating in a report on Friday, December 21st. Stifel Nicolaus reaffirmed a buy rating on shares of Nike in a report on Thursday, December 20th. Finally, JPMorgan Chase & Co. set a $85.00 target price on shares of Nike and gave the stock a buy rating in a report on Wednesday, January 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $84.59.

NYSE:NKE opened at $86.80 on Thursday. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40. The firm has a market cap of $136.72 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.64 and a beta of 0.68. Nike has a fifty-two week low of $63.21 and a fifty-two week high of $87.99.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, equities research analysts predict that Nike will post 2.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, March 1st. Nike’s dividend payout ratio is currently 36.36%.

In related news, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at $124,361,745.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the sale, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Insiders sold 800,000 shares of company stock valued at $61,862,000 in the last three months. 3.90% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Next Capital Management LLC acquired a new position in Nike in the fourth quarter valued at about $26,000. Gemmer Asset Management LLC lifted its position in Nike by 54.2% in the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Clarfeld Financial Advisors LLC acquired a new position in Nike in the fourth quarter valued at about $34,000. Acima Private Wealth LLC acquired a new position in Nike in the fourth quarter valued at about $39,000. Finally, Proffitt & Goodson Inc. acquired a new position in Nike in the fourth quarter valued at about $44,000. 64.85% of the stock is owned by hedge funds and other institutional investors.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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The Fly

Analyst Recommendations for Nike (NYSE:NKE)

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