Oppenheimer started coverage on shares of Nike (NYSE:NKE) in a research report sent to investors on Friday, TipRanks reports. The brokerage issued a buy rating and a $115.00 price target on the footwear maker’s stock.

NKE has been the topic of several other research reports. Needham & Company LLC boosted their target price on shares of Nike from $80.00 to $113.00 and gave the stock a buy rating in a research report on Tuesday, June 23rd. Susquehanna Bancshares lifted their price objective on shares of Nike from $100.00 to $130.00 and gave the company a positive rating in a research note on Monday, June 22nd. Stifel Nicolaus restated a buy rating and set a $110.00 price objective on shares of Nike in a research note on Friday. Deutsche Bank lifted their price objective on shares of Nike from $84.00 to $87.00 and gave the company a hold rating in a research note on Monday, June 15th. Finally, Bank of America upgraded shares of Nike from a neutral rating to a buy rating and decreased their price objective for the company from $105.00 to $85.00 in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $108.96.

NYSE:NKE opened at $95.87 on Friday. The company has a market cap of $148.25 billion, a PE ratio of 60.68, a P/E/G ratio of 3.05 and a beta of 0.78. Nike has a twelve month low of $60.00 and a twelve month high of $105.62. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $96.23 and its two-hundred day moving average is $93.53.

Nike (NYSE:NKE) last released its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.53). The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $7.26 billion. Nike had a return on equity of 31.93% and a net margin of 6.79%. The firm’s revenue for the quarter was down 38.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. As a group, analysts expect 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 issued 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 is Friday, May 29th. Nike’s payout ratio is 52.97%.

In other news, Chairman Mark G. Parker sold 165,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $99.14, for a total transaction of $16,358,100.00. Following the completion of the sale, the chairman now owns 2,012,954 shares of the company’s stock, valued at $199,564,259.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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, with a total value of $84,630.00. Following the acquisition, the director now directly owns 12,851 shares of the company’s stock, valued at $1,087,580.13. The disclosure for this purchase can be found here. Insiders have sold 236,000 shares of company stock valued at $23,228,100 in the last ninety days. Insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NKE. Firestone Capital Management purchased a new stake in shares of Nike in the fourth quarter valued at about $25,000. Sowa Financial Group Inc. purchased a new stake in shares of Nike in the fourth quarter valued at about $27,000. Kessler Investment Group LLC purchased a new stake in shares of Nike in the first quarter valued at about $27,000. Stuart Chaussee & Associates Inc. grew its holdings in shares of Nike by 668.9% in the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 301 shares during the period. Finally, Perennial Advisors LLC purchased a new stake in shares of Nike in the first quarter valued at about $30,000. 64.54% of the stock is owned by hedge funds and other institutional investors.

Nike Company Profile

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.

Further Reading: Initial Coin Offerings entail a high degree of risk

Analyst Recommendations for Nike (NYSE:NKE)

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