Telsey Advisory Group Issues Positive Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its target price upped by Telsey Advisory Group from $70.00 to $75.00 in a report released on Tuesday morning, MarketBeat reports. The firm currently has a market perform rating on the footwear maker’s stock.

A number of other brokerages have also weighed in on NKE. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, June 20th. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Morgan Stanley upped their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Argus raised shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.46.

NIKE Stock Down 0.5%

NKE opened at $70.92 on Tuesday. The firm has a market cap of $104.73 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 2.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm’s 50-day simple moving average is $75.14 and its 200-day simple moving average is $67.40. NIKE has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Equities research analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE’s dividend payout ratio is 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of NIKE by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock valued at $8,086,042,000 after acquiring an additional 672,705 shares during the last quarter. State Street Corp increased its stake in NIKE by 2.8% in the second quarter. State Street Corp now owns 59,154,159 shares of the footwear maker’s stock valued at $4,225,441,000 after purchasing an additional 1,590,603 shares in the last quarter. Wellington Management Group LLP raised its holdings in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. raised its holdings in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after purchasing an additional 620,214 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

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.