Macquarie set a $98.00 price objective on Nike (NYSE:NKE) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the footwear maker’s stock.
A number of other research firms have also recently commented on NKE. Goldman Sachs Group set a $83.00 target price on Nike and gave the company a neutral rating in a research note on Wednesday, September 26th. Guggenheim increased their target price on Nike to $100.00 and gave the company a buy rating in a research note on Thursday, September 20th. HSBC set a $92.00 price target on shares of Nike and gave the company a buy rating in a research report on Thursday, September 6th. Susquehanna Bancshares upgraded shares of Nike from a neutral rating to a positive rating and upped their price target for the company from $78.00 to $93.00 in a research report on Monday, August 20th. Finally, Wells Fargo & Co set a $82.00 price target on shares of Nike and gave the company a neutral rating in a research report on Monday, August 6th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $85.85.
NKE opened at $73.34 on Tuesday. The firm has a market capitalization of $120.36 billion, a P/E ratio of 30.31, a PEG ratio of 2.37 and a beta of 0.76. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. Nike has a 52 week low of $60.13 and a 52 week high of $86.04.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Nike will post 2.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, November 30th. Nike’s dividend payout ratio is currently 36.36%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now directly owns 26,963 shares in the company, valued at $2,293,203.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at $8,902,645. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of NKE. Fuller & Thaler Asset Management Inc. purchased a new stake in Nike in the second quarter worth about $104,000. BDO Wealth Advisors LLC lifted its holdings in Nike by 1,044.3% in the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after buying an additional 1,274 shares during the period. Resources Management Corp CT ADV purchased a new stake in Nike in the third quarter worth about $113,000. Stelac Advisory Services LLC purchased a new stake in Nike in the third quarter worth about $115,000. Finally, CSat Investment Advisory L.P. purchased a new stake in Nike in the second quarter worth about $119,000. Institutional investors own 64.09% of the company’s stock.
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.
See Also: Do Tariffs Work?
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.