Nike (NYSE:NKE) Price Target Increased to $118.00 by Analysts at Morgan Stanley

Nike (NYSE:NKE) had its target price hoisted by Morgan Stanley from $108.00 to $118.00 in a research report released on Monday morning, The Fly reports. They currently have an overweight rating on the footwear maker’s stock.

NKE has been the topic of several other reports. Piper Jaffray Companies boosted their target price on shares of Nike from $97.00 to $101.00 and gave the company an overweight rating in a research note on Wednesday, September 25th. Robert W. Baird set a $87.00 target price on Nike and gave the stock a hold rating in a research report on Monday, September 23rd. Daiwa Capital Markets set a $91.00 price target on Nike and gave the company a hold rating in a report on Friday, September 27th. Citigroup upped their price target on Nike from $100.00 to $103.00 and gave the company a buy rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC set a $98.00 price objective on Nike and gave the stock a buy rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $97.69.

Shares of NKE opened at $93.56 on Monday. The company has a 50-day moving average of $92.37 and a two-hundred day moving average of $87.11. The stock has a market cap of $145.94 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 2.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29. Nike has a one year low of $66.53 and a one year high of $96.87.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that Nike will post 2.97 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Nike’s previous quarterly dividend of $0.22. Nike’s dividend payout ratio (DPR) is presently 39.36%.

In other Nike news, CAO Hilary K. Krane sold 32,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $89.30, for a total value of $2,902,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark G. Parker sold 165,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $93.42, for a total transaction of $15,414,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,054,511 shares of the company’s stock, valued at $191,932,417.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 436,445 shares of company stock worth $40,260,653. Insiders own 3.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in NKE. Main Street Research LLC lifted its position in shares of Nike by 3.3% during the 3rd quarter. Main Street Research LLC now owns 3,440 shares of the footwear maker’s stock worth $323,000 after purchasing an additional 109 shares during the last quarter. Asset Dedication LLC grew its holdings in Nike by 0.6% in the 3rd quarter. Asset Dedication LLC now owns 20,144 shares of the footwear maker’s stock valued at $1,898,000 after buying an additional 114 shares during the last quarter. SlateStone Wealth LLC increased its position in Nike by 0.5% in the 3rd quarter. SlateStone Wealth LLC now owns 22,341 shares of the footwear maker’s stock worth $2,098,000 after buying an additional 115 shares during the period. Strategic Advisors LLC increased its position in Nike by 3.3% in the 3rd quarter. Strategic Advisors LLC now owns 3,713 shares of the footwear maker’s stock worth $349,000 after buying an additional 118 shares during the period. Finally, Trustcore Financial Services LLC lifted its holdings in shares of Nike by 2.9% during the second quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock worth $358,000 after buying an additional 120 shares during the last quarter. 65.12% of the stock is owned by institutional investors and hedge funds.

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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