Nike (NYSE:NKE) Given a $62.00 Price Target by Goldman Sachs Group Analysts

Goldman Sachs Group set a $62.00 target price on Nike (NYSE:NKE) in a research report sent to investors on Wednesday, January 3rd. The firm currently has a neutral rating on the footwear maker’s stock.

NKE has been the topic of a number of other research reports. HSBC lowered shares of Nike from a buy rating to a hold rating and lifted their price target for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. Buckingham Research initiated coverage on shares of Nike in a research note on Sunday, December 31st. They set a buy rating and a $72.00 price target on the stock. Zacks Investment Research raised shares of Nike from a sell rating to a hold rating in a research report on Tuesday, October 24th. B. Riley boosted their target price on shares of Nike from $53.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, December 22nd. Finally, Citigroup reissued a buy rating and issued a $65.00 target price (down previously from $67.00) on shares of Nike in a research report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Nike currently has a consensus rating of Hold and a consensus target price of $64.94.

Shares of Nike (NYSE:NKE) traded up $0.33 during midday trading on Wednesday, reaching $68.04. 6,156,767 shares of the company were exchanged, compared to its average volume of 9,030,000. Nike has a 1 year low of $50.35 and a 1 year high of $68.64. The firm has a market capitalization of $111,010.00, a price-to-earnings ratio of 29.45, a P/E/G ratio of 3.07 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS. analysts anticipate that Nike will post 2.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were issued a $0.20 dividend. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, December 1st. Nike’s payout ratio is presently 34.63%.

In other news, EVP John F. Slusher sold 125,722 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $63.17, for a total transaction of $7,941,858.74. Following the sale, the executive vice president now owns 268,169 shares in the company, valued at $16,940,235.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John F. Slusher sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the transaction, the executive vice president now directly owns 268,169 shares in the company, valued at $16,918,782.21. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock worth $60,257,267 over the last quarter. Insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after acquiring an additional 1,130,409 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Nike by 3.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 322,490 shares of the footwear maker’s stock worth $17,972,000 after buying an additional 9,950 shares during the period. Edgewood Management LLC raised its stake in Nike by 3.9% during the 1st quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock valued at $661,710,000 after purchasing an additional 441,507 shares during the last quarter. Apertura Capital LLC acquired a new position in shares of Nike in the 1st quarter valued at $5,573,000. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of Nike by 4.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,548 shares of the footwear maker’s stock valued at $644,000 after buying an additional 440 shares in the last quarter. 62.86% of the stock is currently owned by hedge funds and other institutional investors.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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