Piper Jaffray Companies set a $93.00 price target on Nike (NYSE:NKE) in a research note published on Friday morning. The brokerage currently has a buy rating on the footwear maker’s stock. Piper Jaffray Companies also issued estimates for Nike’s Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.83 EPS, FY2019 earnings at $2.66 EPS, Q1 2020 earnings at $0.79 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.77 EPS, Q4 2020 earnings at $0.97 EPS, FY2020 earnings at $2.90 EPS, Q1 2021 earnings at $0.93 EPS, Q2 2021 earnings at $0.71 EPS, Q3 2021 earnings at $0.91 EPS and FY2021 earnings at $3.45 EPS.
Other equities research analysts have also issued reports about the stock. Macquarie set a $98.00 price objective on shares of Nike and gave the company a buy rating in a research note on Tuesday, December 4th. Stifel Nicolaus reaffirmed a buy rating on shares of Nike in a research note on Thursday, December 20th. Jefferies Financial Group set a $75.00 target price on shares of Nike and gave the company a buy rating in a research report on Thursday, December 20th. Deutsche Bank set a $69.00 target price on shares of Nike and gave the company a buy rating in a research report on Thursday, December 20th. Finally, Canaccord Genuity reiterated a buy rating and set a $95.00 target price on shares of Nike in a research report on Monday, December 17th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $86.93.
Shares of NYSE:NKE traded down $5.82 during trading on Friday, reaching $82.19. The stock had a trading volume of 21,649,087 shares, compared to its average volume of 5,946,643. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. Nike has a 52 week low of $63.21 and a 52 week high of $88.59. The firm has a market cap of $138.51 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.71 and a beta of 0.68.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.51%. The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the firm posted $0.68 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Nike will post 2.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 1.07%. Nike’s payout ratio is 36.36%.
In other Nike news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 284,805 shares in the company, valued at $21,089,810.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $80.00, for a total transaction of $12,000,000.00. Following the transaction, the chief executive officer now owns 1,687,863 shares in the company, valued at approximately $135,029,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 816,500 shares of company stock worth $63,317,465. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Tiemann Investment Advisors LLC raised its holdings in shares of Nike by 2.4% in the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 125 shares during the last quarter. Baystate Wealth Management LLC raised its holdings in shares of Nike by 5.8% in the fourth quarter. Baystate Wealth Management LLC now owns 2,304 shares of the footwear maker’s stock valued at $185,000 after purchasing an additional 127 shares during the last quarter. Lee Danner & Bass Inc. raised its holdings in shares of Nike by 2.9% in the fourth quarter. Lee Danner & Bass Inc. now owns 5,071 shares of the footwear maker’s stock valued at $376,000 after purchasing an additional 144 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its holdings in shares of Nike by 0.8% in the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 18,318 shares of the footwear maker’s stock valued at $1,358,000 after purchasing an additional 149 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its holdings in shares of 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 purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Nike Company Profile
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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