BTIG Research Raises Nike (NYSE:NKE) Price Target to $117.00

Nike (NYSE:NKE) had its price target increased by BTIG Research from $108.00 to $117.00 in a research report sent to investors on Tuesday, The Fly reports. They currently have a buy rating on the footwear maker’s stock.

Several other research analysts also recently commented on the company. Cowen lifted their target price on Nike from $85.00 to $110.00 and gave the stock an outperform rating in a research note on Monday, June 1st. UBS Group boosted their price target on Nike from $114.00 to $122.00 and gave the company a buy rating in a research note on Monday. Deutsche Bank boosted their price target on Nike from $84.00 to $87.00 and gave the company a hold rating in a research note on Monday, June 15th. Robert W. Baird boosted their price target on Nike from $85.00 to $95.00 and gave the company a neutral rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group restated a hold rating and issued a $83.00 price target on shares of Nike in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $106.39.

Shares of NYSE NKE opened at $101.40 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. Nike has a 12 month low of $60.00 and a 12 month high of $105.62. The stock has a 50 day moving average of $95.75 and a 200-day moving average of $93.55. The company has a market capitalization of $155.63 billion, a P/E ratio of 33.81, a P/E/G ratio of 3.20 and a beta of 0.79.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.69). Nike had a return on equity of 51.49% and a net margin of 10.46%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business’s revenue was down 38.0% compared to the same quarter last year. Analysts predict that Nike will post 2.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.97%. Nike’s dividend payout ratio (DPR) is currently 39.36%.

In other news, Chairman Mark G. Parker sold 165,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $99.14, for a total transaction of $16,358,100.00. Following the completion of the transaction, the chairman now owns 2,012,954 shares of the company’s stock, valued at approximately $199,564,259.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew Campion sold 60,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $98.00, for a total value of $5,880,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 236,000 shares of company stock valued at $23,228,100 in the last three months. 3.80% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Heritage Trust Co grew its position in Nike by 2.7% during the 1st quarter. Heritage Trust Co now owns 4,411 shares of the footwear maker’s stock worth $365,000 after acquiring an additional 117 shares during the last quarter. Pacer Advisors Inc. grew its position in Nike by 4.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,031 shares of the footwear maker’s stock worth $273,000 after acquiring an additional 122 shares during the last quarter. Baldwin Investment Management LLC grew its position in Nike by 0.5% during the 4th quarter. Baldwin Investment Management LLC now owns 27,023 shares of the footwear maker’s stock worth $2,738,000 after acquiring an additional 125 shares during the last quarter. Farmers Trust Co. grew its position in Nike by 0.7% during the 1st quarter. Farmers Trust Co. now owns 18,139 shares of the footwear maker’s stock worth $1,501,000 after acquiring an additional 125 shares during the last quarter. Finally, Moloney Securities Asset Management LLC grew its position in Nike by 0.9% during the 1st quarter. Moloney Securities Asset Management LLC now owns 14,062 shares of the footwear maker’s stock worth $1,164,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company’s stock.

About Nike

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.

Recommended Story: How to interpret a stock’s beta number

The Fly

Analyst Recommendations for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.