Nike (NYSE:NKE) had its target price increased by Sanford C. Bernstein from $101.00 to $115.00 in a research note published on Friday, Briefing.com Automated Import reports. Sanford C. Bernstein currently has an outperform rating on the footwear maker’s stock.

Several other brokerages have also weighed in on NKE. Morgan Stanley increased their target price on Nike from $92.00 to $119.00 and gave the stock an overweight rating in a research report on Wednesday, June 24th. BMO Capital Markets dropped their target price on Nike from $110.00 to $87.00 and set an outperform rating on the stock in a research report on Wednesday, March 25th. Barclays reaffirmed a buy rating and issued a $106.00 target price on shares of Nike in a research report on Tuesday, March 10th. BTIG Research increased their target price on Nike from $108.00 to $117.00 and gave the stock a buy rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler increased their target price on Nike from $96.00 to $112.00 and gave the stock an overweight rating in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $108.96.

Shares of NKE opened at $95.87 on Friday. The business’s fifty day moving average price is $96.23 and its 200 day moving average price is $93.53. Nike has a 12-month low of $60.00 and a 12-month high of $105.62. The stock has a market capitalization of $148.25 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. 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 announced its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.53). Nike had a return on equity of 31.93% and a net margin of 6.79%. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was down 38.0% compared to the same quarter last year. As a group, research analysts anticipate that Nike will post 2.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors 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 yield of 1.02%. The ex-dividend date is Friday, May 29th. Nike’s payout ratio is currently 52.97%.

In related news, Chairman Mark G. Parker sold 165,000 shares of the stock in a transaction on Monday, June 1st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew Campion sold 60,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $98.00, for a total value of $5,880,000.00. The disclosure for this sale can be found here. Insiders sold a total of 236,000 shares of company stock valued at $23,228,100 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Firestone Capital Management acquired a new position in shares of Nike in the 4th quarter valued at $25,000. Sowa Financial Group Inc. acquired a new stake in Nike during the 4th quarter worth about $27,000. Kessler Investment Group LLC acquired a new stake in Nike during the 1st quarter worth about $27,000. Stuart Chaussee & Associates Inc. boosted its position in Nike by 668.9% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Finally, Perennial Advisors LLC acquired a new stake in Nike during the 1st quarter worth about $30,000. Institutional investors and hedge funds 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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