NIKE (NYSE:NKE) Price Target Raised to $100.00 at JPMorgan Chase & Co.

NIKE (NYSE:NKE) had its price target lifted by JPMorgan Chase & Co. from $93.00 to $100.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the footwear maker’s stock.

NKE has been the subject of several other research reports. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. HSBC raised NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Robert W. Baird upped their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Needham & Company LLC reissued a “buy” rating and issued a $78.00 price target on shares of NIKE in a report on Wednesday. Finally, UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.26.

NIKE Price Performance

Shares of NYSE NKE opened at $74.04 on Wednesday. NIKE has a 1-year low of $52.28 and a 1-year high of $85.23. The business has a 50-day moving average of $74.73 and a 200-day moving average of $67.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market capitalization of $109.35 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 2.60 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.05% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 74.07%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional Trading of NIKE

A number of institutional investors and hedge funds have recently made changes to their positions in NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the 1st quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE in the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC increased its position in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter valued at approximately $30,000. Finally, Matrix Trust Co increased its position in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.