NIKE (NYSE:NKE) Given New $138.00 Price Target at Telsey Advisory Group

NIKE (NYSE:NKE – Get Rating) had its price target boosted by Telsey Advisory Group from $133.00 to $138.00 in a report issued on Friday morning, Benzinga reports. Telsey Advisory Group currently has an outperform rating on the footwear maker’s stock. Telsey Advisory Group also issued estimates for NIKE’s Q4 2023 earnings at $0.80 EPS, FY2023 earnings at $3.11 EPS, Q2 2024 earnings at $1.10 EPS, Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $3.95 EPS.

Several other equities research analysts also recently issued reports on the stock. Robert W. Baird raised their price objective on shares of NIKE from $120.00 to $130.00 in a research note on Wednesday, December 21st. Royal Bank of Canada lifted their price target on shares of NIKE from $130.00 to $145.00 and gave the stock an outperform rating in a research note on Tuesday, February 21st. Oppenheimer lifted their price target on shares of NIKE from $135.00 to $150.00 and gave the stock an outperform rating in a research note on Tuesday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of NIKE from $128.00 to $156.00 and gave the stock an overweight rating in a research note on Thursday, January 26th. Finally, Raymond James lifted their price target on shares of NIKE from $99.00 to $130.00 and gave the stock an outperform rating in a research note on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $129.66.

NIKE Stock Performance

Shares of NIKE stock traded down $0.26 during midday trading on Friday, hitting $120.39. The company had a trading volume of 12,868,912 shares, compared to its average volume of 6,002,870. The business’s 50 day simple moving average is $123.67 and its two-hundred day simple moving average is $109.91. The stock has a market cap of $186.67 billion, a PE ratio of 33.91, a P/E/G ratio of 3.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.69 and a quick ratio of 1.78. NIKE has a 1-year low of $82.22 and a 1-year high of $139.86.

NIKE (NYSE:NKE – Get Rating) last announced its quarterly earnings data on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.20. The business had revenue of $13.32 billion for the quarter, compared to the consensus estimate of $12.61 billion. NIKE had a net margin of 11.47% and a return on equity of 36.83%. As a group, equities analysts predict that NIKE will post 3.13 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 6th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $1.36 annualized dividend and a yield of 1.13%. NIKE’s dividend payout ratio is currently 38.31%.

Insiders Place Their Bets

In other news, Director Peter B. Henry acquired 557 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was purchased at an average cost of $125.45 per share, with a total value of $69,875.65. Following the acquisition, the director now owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Peter B. Henry purchased 557 shares of the stock in a transaction dated Tuesday, February 7th. The stock was bought at an average cost of $125.45 per share, with a total value of $69,875.65. Following the purchase, the director now directly owns 4,062 shares in the company, valued at approximately $509,577.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 60,213 shares of the company’s stock, valued at $7,466,412. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Secure Asset Management LLC grew its position in shares of NIKE by 1.9% in the 4th quarter. Secure Asset Management LLC now owns 4,188 shares of the footwear maker’s stock valued at $490,000 after purchasing an additional 79 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of NIKE by 3.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,556 shares of the footwear maker’s stock valued at $299,000 after purchasing an additional 80 shares during the period. Meiji Yasuda Life Insurance Co grew its position in shares of NIKE by 0.3% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 29,026 shares of the footwear maker’s stock valued at $3,396,000 after purchasing an additional 80 shares during the period. Vestcor Inc grew its position in shares of NIKE by 0.3% in the 4th quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock valued at $3,508,000 after purchasing an additional 81 shares during the period. Finally, North Star Investment Management Corp. grew its position in shares of NIKE by 1.9% in the 4th quarter. North Star Investment Management Corp. now owns 4,538 shares of the footwear maker’s stock valued at $531,000 after purchasing an additional 83 shares during the period. 63.20% of the stock is owned by institutional investors.

NIKE Company Profile

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.