Barclays Raises NIKE (NYSE:NKE) Price Target to $84.00

NIKE (NYSE:NKE) had its price target increased by Barclays from $80.00 to $84.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the footwear maker’s stock.

A number of other analysts also recently commented on NKE. Bank of America dropped their target price on shares of NIKE from $113.00 to $104.00 and set a buy rating on the stock in a report on Friday, June 28th. Jefferies Financial Group cut their price objective on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. KeyCorp restated a sector weight rating on shares of NIKE in a report on Friday, June 28th. Guggenheim dropped their price target on NIKE from $130.00 to $115.00 and set a buy rating on the stock in a research note on Friday, June 28th. Finally, Wedbush reduced their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of Moderate Buy and a consensus target price of $95.74.

NIKE Price Performance

Shares of NYSE:NKE opened at $80.94 on Wednesday. The stock’s 50 day moving average price is $77.69 and its 200 day moving average price is $87.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market cap of $122.17 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.08 and a beta of 1.02. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, 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. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently bought and sold shares of the business. American Trust boosted its position in shares of NIKE by 4.5% during the 2nd quarter. American Trust now owns 46,076 shares of the footwear maker’s stock valued at $3,473,000 after acquiring an additional 1,969 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in NIKE by 27.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock valued at $93,000 after purchasing an additional 264 shares in the last quarter. SS&H Financial Advisors Inc. grew its stake in shares of NIKE by 1.3% in the 2nd quarter. SS&H Financial Advisors Inc. now owns 18,961 shares of the footwear maker’s stock valued at $1,429,000 after purchasing an additional 235 shares during the period. Heritage Wealth Management Inc. acquired a new position in shares of NIKE in the 2nd quarter worth approximately $207,000. Finally, Sanctuary Advisors LLC acquired a new stake in NIKE in the 2nd quarter valued at $11,390,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Company Profile

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.