Nike (NYSE:NKE) had its price target lifted by Wells Fargo & Co from $99.00 to $110.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the footwear maker’s stock.

Several other research firms also recently commented on NKE. Oppenheimer assumed coverage on shares of Nike in a research note on Friday, May 15th. They issued a buy rating and a $115.00 price target on the stock. Cowen upped their price target on shares of Nike from $85.00 to $110.00 and gave the company an outperform rating in a research note on Monday, June 1st. Raymond James upped their price target on shares of Nike from $100.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, June 17th. Goldman Sachs Group restated a buy rating and issued a $110.00 price target (up from $96.00) on shares of Nike in a research note on Friday. Finally, Pivotal Research restated a buy rating and issued a $115.00 price target on shares of Nike in a research note on Tuesday, June 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $108.96.

Shares of NKE opened at $95.87 on Friday. The firm has a market capitalization of $148.25 billion, a PE ratio of 60.68, a PEG ratio of 3.05 and a beta of 0.78. The company’s 50-day moving average is $96.23 and its 200-day moving average is $93.53. Nike has a fifty-two week low of $60.00 and a fifty-two week high of $105.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.53). Nike had a net margin of 6.79% and a return on equity of 31.93%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Nike’s revenue for the quarter was down 38.0% compared to the same quarter last year. Analysts predict that Nike will post 2.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a yield of 1.02%. Nike’s dividend payout ratio (DPR) is presently 52.97%.

In related news, Chairman Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $99.14, for a total value of $16,358,100.00. Following the completion of the transaction, the chairman now owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Hilary K. Krane sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $90.00, for a total transaction of $990,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,000 shares of company stock valued at $23,228,100. 3.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Nike by 1.7% during the 1st quarter. BlackRock Inc. now owns 90,976,698 shares of the footwear maker’s stock worth $7,527,412,000 after purchasing an additional 1,489,033 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Nike by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 26,547,619 shares of the footwear maker’s stock worth $2,196,549,000 after purchasing an additional 584,343 shares during the last quarter. Wellington Management Group LLP raised its holdings in Nike by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 22,175,695 shares of the footwear maker’s stock worth $1,834,816,000 after purchasing an additional 73,831 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nike by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 21,107,272 shares of the footwear maker’s stock worth $1,743,723,000 after purchasing an additional 222,608 shares during the last quarter. Finally, Capital World Investors raised its holdings in Nike by 2.5% during the 1st quarter. Capital World Investors now owns 20,704,258 shares of the footwear maker’s stock worth $1,713,079,000 after purchasing an additional 508,120 shares during the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.

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.

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Analyst Recommendations for Nike (NYSE:NKE)

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