Brokerages Set NIKE, Inc. (NYSE:NKE) Price Target at $89.58

Shares of NIKE, Inc. (NYSE:NKE) have been assigned an average recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $89.96.

NKE has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Finally, UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NKE. Clarius Group LLC grew its holdings in NIKE by 6.0% during the fourth quarter. Clarius Group LLC now owns 8,054 shares of the footwear maker’s stock worth $609,000 after purchasing an additional 457 shares during the period. Aaron Wealth Advisors LLC lifted its position in shares of NIKE by 12.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 4,474 shares of the footwear maker’s stock valued at $339,000 after buying an additional 492 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in shares of NIKE by 14.2% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 5,180 shares of the footwear maker’s stock worth $394,000 after acquiring an additional 645 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of NIKE by 5.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 21,738 shares of the footwear maker’s stock worth $1,645,000 after acquiring an additional 1,201 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its stake in NIKE by 5.7% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 150,864 shares of the footwear maker’s stock valued at $11,416,000 after acquiring an additional 8,102 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.2 %

Shares of NIKE stock opened at $71.04 on Thursday. The business has a fifty day simple moving average of $76.05 and a 200 day simple moving average of $78.06. The stock has a market cap of $105.08 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 12 month low of $70.53 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS. Research analysts predict that NIKE will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. NIKE’s payout ratio is 49.38%.

About NIKE

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.