Shares of NIKE, Inc. (NYSE:NKE – Get Free Report) gapped up before the market opened on Friday after Evercore ISI raised their price target on the stock from $105.00 to $110.00. The stock had previously closed at $80.98, but opened at $87.87. Evercore ISI currently has an outperform rating on the stock. NIKE shares last traded at $87.35, with a volume of 8,438,793 shares.
A number of other equities analysts have also recently issued reports on NKE. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, August 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. 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. Finally, Guggenheim decreased their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.89.
View Our Latest Stock Report on NKE
Insider Activity
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC raised its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new position in NIKE during the 4th quarter valued at $36,000. Institutional investors own 64.25% of the company’s stock.
NIKE Stock Up 5.6 %
The stock has a market capitalization of $129.11 billion, a PE ratio of 23.42, a P/E/G ratio of 2.08 and a beta of 1.02. 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’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $87.23.
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 3.06 EPS for the current fiscal year.
NIKE Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given 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 yield of 1.73%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.
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.
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