Several other research firms have also recently weighed in on NKE. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $123.00 to $99.00 and set a buy rating for the company in a research note on Friday, September 30th. Barclays reduced their price objective on NIKE from $110.00 to $83.00 and set an equal weight rating for the company in a research note on Monday, October 3rd. Stifel Nicolaus reduced their price objective on NIKE from $130.00 to $110.00 and set a buy rating for the company in a research note on Friday, September 30th. Jefferies Financial Group set a $115.00 price objective on NIKE in a research note on Friday, November 18th. Finally, Argus cut NIKE from a buy rating to a hold rating in a research note on Monday, October 3rd. Thirteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has an average rating of Moderate Buy and a consensus price target of $115.25.
NIKE Price Performance
NKE stock opened at $106.65 on Tuesday. The business has a 50 day moving average price of $95.17 and a 200 day moving average price of $105.11. The stock has a market cap of $167.29 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.54 and a beta of 1.12. NIKE has a fifty-two week low of $82.22 and a fifty-two week high of $173.37. The company has a quick ratio of 1.76, a current ratio of 2.64 and a debt-to-equity ratio of 0.56.
NIKE Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Monday, December 5th will be issued a $0.34 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, December 2nd. This represents a $1.36 annualized dividend and a yield of 1.28%. NIKE’s dividend payout ratio is 34.56%.
Insider Buying and Selling at NIKE
In other NIKE news, EVP Monique S. Matheson sold 5,882 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $93.55, for a total value of $550,261.10. Following the sale, the executive vice president now owns 60,213 shares of the company’s stock, valued at $5,632,926.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.
Institutional Trading of NIKE
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in NIKE by 0.9% in the third quarter. Vanguard Group Inc. now owns 108,615,256 shares of the footwear maker’s stock valued at $9,028,100,000 after purchasing an additional 984,780 shares during the last quarter. BlackRock Inc. lifted its position in shares of NIKE by 0.6% in the first quarter. BlackRock Inc. now owns 90,518,050 shares of the footwear maker’s stock valued at $12,180,110,000 after acquiring an additional 553,087 shares in the last quarter. State Street Corp lifted its position in shares of NIKE by 1.3% in the third quarter. State Street Corp now owns 55,245,370 shares of the footwear maker’s stock valued at $4,608,491,000 after acquiring an additional 682,827 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of NIKE by 9.0% in the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock valued at $2,427,495,000 after acquiring an additional 1,486,421 shares in the last quarter. Finally, Edgewood Management LLC lifted its position in shares of NIKE by 4.3% in the third quarter. Edgewood Management LLC now owns 14,367,995 shares of the footwear maker’s stock valued at $1,194,268,000 after acquiring an additional 595,267 shares in the last quarter. Institutional investors and hedge funds own 64.19% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.
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