Nike Inc (NKE) Given a $55.00 Price Target at Forward View

Nike Inc (NYSE:NKE) has been given a $55.00 target price by equities research analysts at Forward View in a report issued on Sunday. The brokerage presently has a “hold” rating on the footwear maker’s stock. Forward View’s target price would indicate a potential downside of 1.52% from the stock’s previous close.

A number of other analysts have also recently commented on NKE. Stifel Nicolaus set a $68.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Sunday, December 25th. Piper Jaffray Companies set a $52.00 target price on shares of Nike and gave the company a “hold” rating in a report on Sunday, December 18th. B. Riley reissued a “neutral” rating and issued a $56.00 price target on shares of Nike in a research note on Wednesday, March 22nd. Deutsche Bank AG set a $65.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Sunday, December 18th. Finally, Citigroup Inc reaffirmed a “buy” rating and set a $64.00 target price on shares of Nike in a research note on Wednesday, December 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $60.66.

Shares of Nike (NYSE:NKE) traded down 0.98% during trading on Friday, reaching $55.85. 6,055,624 shares of the company were exchanged. The stock’s 50 day moving average is $56.19 and its 200 day moving average is $53.49. The company has a market capitalization of $92.20 billion, a price-to-earnings ratio of 23.30 and a beta of 0.44. Nike has a 1-year low of $49.01 and a 1-year high of $60.33.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 11.60% and a return on equity of 31.70%. The company had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the prior year, the business earned $0.55 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that Nike will post $2.40 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. Nike’s dividend payout ratio is presently 31.72%.

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In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $55.67, for a total value of $2,783,500.00. Following the completion of the transaction, the insider now owns 300,108 shares of the company’s stock, valued at approximately $16,707,012.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction on Friday, March 24th. The stock was purchased at an average cost of $56.30 per share, with a total value of $56,300.00. Following the acquisition, the director now owns 28,660 shares in the company, valued at $1,613,558. The disclosure for this purchase can be found here. Insiders have sold a total of 665,000 shares of company stock valued at $36,333,500 in the last three months. 3.90% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of NKE. Clarius Group LLC acquired a new stake in Nike during the fourth quarter worth approximately $111,000. Gierl Augustine Investment Management Inc raised its stake in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the period. Asset Planning Services Ltd. acquired a new stake in Nike during the first quarter worth approximately $118,000. SRS Capital Advisors Inc. acquired a new stake in Nike during the fourth quarter worth approximately $120,000. Finally, First Command Bank acquired a new stake in Nike during the fourth quarter worth approximately $128,000. 62.23% of the stock is owned by institutional investors and hedge funds.

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.