Robert W. Baird Raises NIKE (NYSE:NKE) Price Target to $110.00

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

A number of other analysts have also recently weighed in on the stock. Oppenheimer reissued an outperform rating and set a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. KeyCorp reiterated a sector weight rating on shares of NIKE in a research note on Friday, June 28th. HSBC dropped their price target on NIKE from $100.00 to $90.00 and set a hold rating on the stock in a research report on Friday, June 28th. The Goldman Sachs Group decreased their price objective on NIKE from $118.00 to $105.00 and set a buy rating for the company in a research report on Friday, June 28th. Finally, Barclays increased their price target on NIKE from $80.00 to $84.00 and gave the stock an equal weight rating in a report on Wednesday, September 18th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of Moderate Buy and a consensus price target of $96.15.

NIKE Price Performance

Shares of NKE opened at $86.52 on Friday. The firm has a 50-day simple moving average of $78.11 and a two-hundred day simple moving average of $86.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $130.59 billion, a PE ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. As a group, analysts forecast that NIKE will post 3.06 EPS for the current 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 given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now 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 hedge funds have recently added to or reduced their stakes in the stock. Cim LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $14,275,000. TKG Advisors LLC bought a new position in NIKE in the 4th quarter worth approximately $1,012,000. Spartan Planning & Wealth Management acquired a new position in NIKE during the 4th quarter worth $182,000. Edmond DE Rothschild Holding S.A. lifted its holdings in NIKE by 27.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after buying an additional 24,686 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the last quarter. Institutional investors 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.