NIKE (NYSE:NKE) Price Target Raised to $74.00

NIKE (NYSE:NKE) had its price target increased by Citigroup from $68.00 to $74.00 in a research report released on Tuesday, MarketBeat Ratings reports. They currently have a neutral rating on the footwear maker’s stock.

NKE has been the subject of several other research reports. DZ Bank cut NIKE from a “buy” rating to a “hold” rating and set a $76.00 price target for the company. in a research note on Thursday, July 10th. Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, June 24th. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Needham & Company LLC upped their price target on NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $64.00 to $93.00 in a research note on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $78.73.

NIKE Price Performance

Shares of NYSE NKE opened at $72.09 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE has a twelve month low of $52.28 and a twelve month high of $90.62. The stock has a 50 day moving average of $75.22 and a two-hundred day moving average of $67.61. The stock has a market cap of $106.47 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.63 and a beta of 1.24.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, research analysts forecast that NIKE will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s dividend payout ratio is presently 74.07%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter worth $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE in the second quarter valued at $26,000. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC grew its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the last quarter. Finally, Saudi Central Bank acquired a new stake in NIKE in the first quarter valued at $30,000. Hedge funds and other 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.