NIKE (NYSE:NKE) Price Target Increased to $118.00 by Analysts at Cowen

NIKE (NYSE:NKEGet Rating) had its target price hoisted by Cowen from $114.00 to $118.00 in a report released on Tuesday morning, The Fly reports.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their target price on shares of NIKE from $128.00 to $110.00 and set an outperform rating for the company in a research report on Friday, September 30th. UBS Group set a $141.00 price objective on shares of NIKE in a research report on Monday, November 14th. Argus cut shares of NIKE from a buy rating to a hold rating in a research report on Monday, October 3rd. Oppenheimer cut their price objective on shares of NIKE to $135.00 in a research report on Thursday, October 20th. Finally, Piper Sandler cut their price objective on shares of NIKE from $115.00 to $95.00 and set a neutral rating for the company in a research report on Friday, September 30th. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $115.25.

NIKE Trading Up 2.1 %

Shares of NIKE stock opened at $105.97 on Tuesday. The firm has a 50-day moving average of $95.17 and a 200-day moving average of $105.10. The stock has a market cap of $166.22 billion, a PE ratio of 30.02, a PEG ratio of 3.44 and a beta of 1.12. NIKE has a 52-week low of $82.22 and a 52-week high of $173.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.76 and a current ratio of 2.64.

NIKE (NYSE:NKEGet Rating) last announced its earnings results on Thursday, September 29th. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 11.96% and a return on equity of 37.08%. NIKE’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. As a group, sell-side analysts forecast that NIKE will post 2.97 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Investors of record on Monday, December 5th will be issued a $0.34 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 34.56%.

Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 5,882 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $93.55, for a total value of $550,261.10. Following the transaction, the executive vice president now directly owns 60,213 shares in the company, valued at approximately $5,632,926.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On NIKE

Several large investors have recently made changes to their positions in NKE. CVA Family Office LLC increased its holdings in NIKE by 37.0% in the 3rd quarter. CVA Family Office LLC now owns 2,353 shares of the footwear maker’s stock worth $196,000 after acquiring an additional 635 shares during the last quarter. IHT Wealth Management LLC increased its holdings in NIKE by 82.2% in the 3rd quarter. IHT Wealth Management LLC now owns 9,874 shares of the footwear maker’s stock worth $821,000 after acquiring an additional 4,454 shares during the last quarter. Dash Acquisitions Inc. increased its holdings in NIKE by 14.5% in the 3rd quarter. Dash Acquisitions Inc. now owns 21,937 shares of the footwear maker’s stock worth $1,823,000 after acquiring an additional 2,785 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in NIKE by 101.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 58,158 shares of the footwear maker’s stock worth $4,834,000 after acquiring an additional 29,309 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in NIKE in the 3rd quarter worth about $16,860,000. 64.19% of the stock is owned by hedge funds and other institutional investors.

About NIKE

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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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