NIKE (NYSE:NKE) Given New $110.00 Price Target at Robert W. Baird

NIKE (NYSE:NKE) had its price objective raised by Robert W. Baird from $100.00 to $110.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

NKE has been the topic of several other reports. The Goldman Sachs Group lowered their price objective on shares of NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research report on Friday, June 28th. Morgan Stanley reiterated an equal weight rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Guggenheim reduced their price objective on NIKE from $130.00 to $115.00 and set a buy rating for the company in a research note on Friday, June 28th. Raymond James reaffirmed a market perform rating on shares of NIKE in a research note on Friday, June 28th. Finally, StockNews.com lowered shares of NIKE from a buy rating to a hold rating in a research report on Friday, June 21st. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $96.15.

NIKE Trading Up 6.9 %

Shares of NYSE NKE opened at $86.55 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $130.64 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. The business has a fifty day simple moving average of $78.11 and a 200-day simple moving average of $87.14.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. Sell-side analysts predict that NIKE will post 3.06 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid 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 yield of 1.71%. NIKE’s payout ratio is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares of the company’s stock, 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in NIKE by 625.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock valued at $5,796,000 after acquiring an additional 66,299 shares during the period. American Trust grew its holdings in shares of NIKE by 4.5% during the 2nd quarter. American Trust now owns 46,076 shares of the footwear maker’s stock worth $3,473,000 after purchasing an additional 1,969 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of 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 during the period. SS&H Financial Advisors Inc. raised its stake in shares of NIKE by 1.3% in the second 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 in the last quarter. Finally, Heritage Wealth Management Inc. bought a new position in NIKE in the second quarter worth $207,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.