NIKE (NYSE:NKE) PT Raised to $95.00 at Wells Fargo & Company

NIKE (NYSE:NKE) had its price target boosted by Wells Fargo & Company from $86.00 to $95.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the footwear maker’s stock.

Several other research analysts have also recently commented on the company. Morgan Stanley reissued an equal weight rating and set a $79.00 target price on shares of NIKE in a research note on Friday. Piper Sandler restated a neutral rating and set a $80.00 target price on shares of NIKE in a research note on Friday, August 23rd. KeyCorp reiterated a sector weight rating on shares of NIKE in a research note on Friday, June 28th. Truist Financial dropped their price objective on shares of NIKE from $99.00 to $81.00 and set a hold rating on the stock in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $96.04.

NIKE Stock Down 0.4 %

Shares of NKE opened at $86.19 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $130.08 billion, a PE ratio of 23.11, a P/E/G ratio of 2.08 and a beta of 1.02. The company’s 50-day simple moving average is $78.40 and its 200-day simple moving average is $86.90. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. Analysts forecast that NIKE will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.72%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On NIKE

A number of large investors have recently modified their holdings of the business. 9258 Wealth Management LLC boosted its position in shares of NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after purchasing an additional 842 shares in the last quarter. Gryphon Financial Partners LLC grew its position in NIKE by 34.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after buying an additional 2,981 shares during the period. TrinityPoint Wealth LLC increased its holdings in NIKE by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after buying an additional 166 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of NIKE by 26.4% during the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after acquiring an additional 126 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of NIKE by 6.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after acquiring an additional 7,769 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.