NIKE (NYSE:NKE) Price Target Increased to $110.00 by Analysts at Robert W. Baird

NIKE (NYSE:NKE) had its price objective upped by Robert W. Baird from $100.00 to $110.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

Several other equities analysts also recently weighed in on NKE. Jefferies Financial Group decreased their price target on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. StockNews.com cut NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Williams Trading upgraded NIKE from a sell rating to a buy rating and upped their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Stifel Nicolaus reduced their price objective on NIKE from $88.00 to $79.00 and set a hold rating on the stock in a research report on Monday, August 26th. Finally, Oppenheimer restated an outperform rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $96.04.

NIKE Trading Down 0.4 %

Shares of NIKE stock opened at $86.19 on Friday. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The firm’s 50-day moving average price is $78.40 and its 200 day moving average price is $86.90. 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 firm has a market capitalization of $130.08 billion, a PE ratio of 23.11, a P/E/G ratio of 2.08 and a beta of 1.02.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.72%. NIKE’s payout ratio is presently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’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 completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% during the fourth 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 buying an additional 7,996,434 shares in the last quarter. Capital International Investors increased its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $533,533,000. Capital World Investors raised its holdings 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 in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.