Sanford C. Bernstein Increases Nike (NYSE:NKE) Price Target to $115.00

Nike (NYSE:NKE) had its price target boosted by Sanford C. Bernstein from $101.00 to $115.00 in a research report sent to investors on Friday, Briefing.com Automated Import reports. They currently have an outperform rating on the footwear maker’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Nike from $91.00 to $104.00 and gave the stock an overweight rating in a research report on Monday, June 22nd. Wedbush reiterated an outperform rating and issued a $107.00 price objective on shares of Nike in a report on Friday. Robert W. Baird upped their price objective on Nike from $85.00 to $95.00 and gave the company a neutral rating in a report on Thursday, June 18th. Susquehanna Bancshares upped their price objective on Nike from $100.00 to $130.00 and gave the company a positive rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group reiterated a hold rating and issued a $83.00 price objective on shares of Nike in a report on Friday, May 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $108.96.

NKE stock opened at $95.87 on Friday. The company has a market cap of $148.25 billion, a P/E ratio of 60.68, a PEG ratio of 3.05 and a beta of 0.78. Nike has a twelve month low of $60.00 and a twelve month high of $105.62. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $96.23 and a 200-day moving average of $93.53.

Nike (NYSE:NKE) last released its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. Nike had a return on equity of 31.93% and a net margin of 6.79%. The company’s revenue was down 38.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, equities research analysts anticipate that Nike will post 2.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a dividend yield of 1.02%. Nike’s dividend payout ratio is currently 52.97%.

In related news, Director John W. Rogers, Jr. purchased 1,000 shares of Nike stock in a transaction that occurred on Friday, April 3rd. The stock was purchased at an average cost of $84.63 per share, with a total value of $84,630.00. Following the completion of the transaction, the director now owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $90.00, for a total value of $990,000.00. The disclosure for this sale can be found here. Insiders have sold 236,000 shares of company stock valued at $23,228,100 over the last three months. Insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. NovaPoint Capital LLC lifted its position in shares of Nike by 2.1% in the first quarter. NovaPoint Capital LLC now owns 22,187 shares of the footwear maker’s stock valued at $1,836,000 after buying an additional 462 shares during the last quarter. Cunning Capital Partners LP acquired a new stake in shares of Nike in the first quarter valued at approximately $972,000. New England Research & Management Inc. lifted its position in shares of Nike by 7.0% in the first quarter. New England Research & Management Inc. now owns 15,985 shares of the footwear maker’s stock valued at $1,323,000 after buying an additional 1,050 shares during the last quarter. Telemus Capital LLC lifted its position in shares of Nike by 3.8% in the first quarter. Telemus Capital LLC now owns 48,487 shares of the footwear maker’s stock valued at $4,780,000 after buying an additional 1,761 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Nike by 31.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 569,034 shares of the footwear maker’s stock valued at $47,082,000 after buying an additional 136,455 shares during the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.

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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