NIKE (NYSE:NKE) Price Target Raised to $64.00 at Barclays

NIKE (NYSE:NKE) had its target price boosted by Barclays from $53.00 to $64.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the footwear maker’s stock.

A number of other equities analysts have also recently commented on NKE. The Goldman Sachs Group dropped their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Bank of America raised their price target on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on NIKE from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley decreased their price target on NIKE from $70.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 17th. Finally, Evercore ISI decreased their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.33.

NIKE Stock Up 15.3%

Shares of NKE opened at $72.09 on Friday. The business’s 50 day moving average is $60.63 and its 200 day moving average is $67.60. The company has a market capitalization of $106.63 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. NIKE has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a return on equity of 23.00% and a net margin of 6.95%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Research analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Institutional Trading of NIKE

A number of hedge funds have recently modified their holdings of the stock. Brighton Jones LLC boosted its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. IFP Advisors Inc boosted its position in NIKE by 17.9% during the fourth quarter. IFP Advisors Inc now owns 11,806 shares of the footwear maker’s stock worth $894,000 after purchasing an additional 1,789 shares in the last quarter. Nwam LLC boosted its position in NIKE by 2.9% during the fourth quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after purchasing an additional 176 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its position in NIKE by 20.3% during the fourth quarter. Kovack Advisors Inc. now owns 8,323 shares of the footwear maker’s stock worth $630,000 after purchasing an additional 1,403 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

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.