Nike (NKE) Price Target Increased to $96.00 by Analysts at Wedbush

Nike (NYSE:NKE) had its target price lifted by Wedbush from $90.00 to $96.00 in a research report report published on Thursday morning, The Fly reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

Other research analysts have also issued research reports about the company. Macquarie set a $98.00 target price on Nike and gave the stock a buy rating in a research report on Tuesday, December 4th. Robert W. Baird reissued a buy rating and issued a $94.00 target price on shares of Nike in a research report on Monday, November 19th. Jefferies Financial Group set a $75.00 target price on Nike and gave the stock a buy rating in a research report on Thursday, December 20th. Deutsche Bank set a $69.00 target price on Nike and gave the stock a buy rating in a research report on Thursday, December 20th. Finally, Canaccord Genuity reissued a buy rating and issued a $95.00 target price on shares of Nike in a research report on Monday, December 17th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $84.59.

Shares of NYSE:NKE traded down $0.80 during trading on Thursday, hitting $86.07. The stock had a trading volume of 112,006 shares, compared to its average volume of 6,149,098. Nike has a 12 month low of $63.21 and a 12 month high of $87.99. The firm has a market capitalization of $136.72 billion, a P/E ratio of 35.63, a P/E/G ratio of 2.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.



Nike (NYSE:NKE) last announced its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Nike will post 2.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio is 36.36%.

In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the sale, the chairman now directly owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the sale, the executive vice president now owns 284,805 shares in the company, valued at $21,089,810.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 800,000 shares of company stock worth $61,862,000. Company insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC purchased a new position in shares of Nike during the third quarter valued at approximately $526,000. Lincoln National Corp increased its position in shares of Nike by 23.6% during the third quarter. Lincoln National Corp now owns 8,808 shares of the footwear maker’s stock worth $746,000 after purchasing an additional 1,684 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Nike by 268.1% during the third quarter. SG Americas Securities LLC now owns 218,844 shares of the footwear maker’s stock worth $18,540,000 after purchasing an additional 159,394 shares in the last quarter. Columbia Asset Management increased its position in shares of Nike by 1.3% during the third quarter. Columbia Asset Management now owns 92,443 shares of the footwear maker’s stock worth $7,832,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Advisor Partners LLC increased its position in shares of Nike by 2.9% during the third quarter. Advisor Partners LLC now owns 31,626 shares of the footwear maker’s stock worth $2,679,000 after purchasing an additional 879 shares in the last quarter. Institutional investors and hedge funds own 64.85% 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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