NIKE (NYSE:NKE) Price Target Increased to $95.00 by Analysts at Wells Fargo & Company

NIKE (NYSE:NKE) had its price target lifted by Wells Fargo & Company from $86.00 to $95.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the footwear maker’s stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reiterated a neutral rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Bank of America lowered their target price on shares of NIKE from $113.00 to $104.00 and set a buy rating for the company in a research note on Friday, June 28th. Evercore ISI raised their price objective on NIKE from $105.00 to $110.00 and gave the stock an outperform rating in a report on Friday. Wedbush dropped their target price on NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research note on Friday, June 28th. Finally, The Goldman Sachs Group decreased their price target on NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of Moderate Buy and an average price target of $96.04.

NIKE Trading Down 0.4 %

Shares of NKE opened at $86.19 on Friday. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a 50 day simple moving average of $78.40 and a 200-day simple moving average of $86.90. The stock has a market cap of $130.08 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities analysts forecast that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently made changes to their positions in the business. Beta Wealth Group Inc. raised its holdings in NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after acquiring an additional 101 shares in the last quarter. Kampmann Melissa S. raised its stake in shares of NIKE by 0.8% in the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after purchasing an additional 115 shares in the last quarter. Ascent Wealth Partners LLC lifted its position in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares during the last quarter. Condor Capital Management grew its stake in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares during the last quarter. 64.25% of the stock is currently 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, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.