NIKE (NYSE:NKE) Given New $110.00 Price Target at Evercore ISI

NIKE (NYSE:NKE) had its target price raised by Evercore ISI from $105.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the footwear maker’s stock.

NKE has been the subject of several other reports. Oppenheimer reissued an outperform rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a hold rating for the company in a research report on Monday, August 26th. StockNews.com cut NIKE from a buy rating to a hold rating in a report on Friday, June 21st. Barclays upped their target price on NIKE from $80.00 to $84.00 and gave the company an equal weight rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reissued a neutral rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of Moderate Buy and an average target price of $96.04.

NIKE Stock Performance

Shares of NYSE NKE opened at $86.19 on Friday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a fifty day moving average price of $78.40 and a two-hundred day moving average price of $86.90. The firm has a market cap of $130.08 billion, a P/E ratio of 23.11, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.72%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Institutional Trading of NIKE

Several large investors have recently modified their holdings of NKE. Centaurus Financial Inc. lifted its position in NIKE by 180.8% during the 2nd quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock worth $338,000 after acquiring an additional 2,891 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of NIKE by 625.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after purchasing an additional 66,299 shares during the period. American Trust lifted 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 worth $3,473,000 after purchasing an additional 1,969 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in NIKE by 27.1% during the 2nd 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. Finally, SS&H Financial Advisors Inc. boosted its stake in NIKE by 1.3% during 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. 64.25% of the stock is owned by institutional investors.

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.