Nike (NYSE:NKE) PT Raised to $95.00

Nike (NYSE:NKE) had its price target boosted by Jefferies Financial Group from $83.00 to $95.00 in a research note released on Friday, AnalystRatings.com reports. Jefferies Financial Group currently has a hold rating on the footwear maker’s stock. Jefferies Financial Group also issued estimates for Nike’s Q1 2021 earnings at $0.43 EPS, Q2 2021 earnings at $0.51 EPS, Q3 2021 earnings at $0.88 EPS, Q4 2021 earnings at $0.30 EPS, FY2021 earnings at $2.12 EPS and FY2022 earnings at $3.16 EPS.

NKE has been the topic of several other research reports. Credit Suisse Group decreased their price objective on Nike from $114.00 to $111.00 and set an outperform rating on the stock in a report on Friday. Morgan Stanley raised their price objective on Nike from $92.00 to $119.00 and gave the stock an overweight rating in a report on Wednesday, June 24th. Sanford C. Bernstein raised their price objective on Nike from $101.00 to $115.00 and gave the stock an outperform rating in a report on Friday. JPMorgan Chase & Co. restated a buy rating and set a $118.00 price objective on shares of Nike in a report on Friday. Finally, Piper Sandler lifted their target price on Nike from $96.00 to $112.00 and gave the company an overweight rating in a report on Monday, June 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the stock. Nike presently has a consensus rating of Buy and a consensus price target of $108.96.

Nike stock opened at $95.87 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.20 and a current ratio of 1.90. The stock has a fifty day moving average of $96.23 and a two-hundred day moving average of $93.53. The company has a market capitalization of $148.25 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 3.05 and a beta of 0.78. Nike has a fifty-two week low of $60.00 and a fifty-two week high of $105.62.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.53). Nike had a return on equity of 31.93% and a net margin of 6.79%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same quarter last year, the business earned $0.62 EPS. Nike’s revenue for the quarter was down 38.0% compared to the same quarter last year. On average, analysts forecast that Nike will post 2.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s payout ratio is 52.97%.

In other news, Chairman Mark G. Parker sold 165,000 shares of Nike stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $99.14, for a total transaction of $16,358,100.00. Following the sale, the chairman now directly owns 2,012,954 shares of the company’s stock, valued at $199,564,259.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. bought 1,000 shares of the company’s stock in a transaction dated Friday, April 3rd. The shares were acquired at an average cost of $84.63 per share, for a total transaction of $84,630.00. Following the completion of the transaction, the director now owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 236,000 shares of company stock worth $23,228,100. Corporate insiders own 3.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Solstein Capital LLC bought a new stake in Nike in the fourth quarter valued at about $236,000. 1832 Asset Management L.P. increased its holdings in Nike by 81.7% in the fourth quarter. 1832 Asset Management L.P. now owns 4,485,657 shares of the footwear maker’s stock valued at $454,422,000 after buying an additional 2,016,633 shares during the last quarter. Fosun International Ltd increased its holdings in Nike by 27.9% in the fourth quarter. Fosun International Ltd now owns 24,387 shares of the footwear maker’s stock valued at $2,477,000 after buying an additional 5,320 shares during the last quarter. Balentine LLC bought a new stake in Nike in the first quarter valued at about $128,000. Finally, Magellan Asset Management Ltd increased its holdings in Nike by 88.9% in the fourth quarter. Magellan Asset Management Ltd now owns 663 shares of the footwear maker’s stock valued at $67,000 after buying an additional 312 shares during the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.

About Nike

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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